Cooper Minerals Inc. Provide Update on the Thermal Coal Project in Pakistan
30.08.2011 | Marketwire
VANCOUVER, 08/30/11 - Cooper Minerals Inc. (TSX VENTURE: CQ)(FRANKFURT: JM6) (the 'Company' or 'Cooper') would like to provide its shareholders with an update on its thermal coal project in Pakistan.Pursuant to the terms of the Option Agreement dated September 3, 2010 between Cooper and Mr. Gul Khan ('Gul'), Cooper and Gul have jointly formed a newly incorporated company, AJK Coal Mining Company (Private) Ltd. ('AJK'), in Pakistan for the exploration and production of coal. The Company holds 60% ownership in AJK. AJK has a 100% legal and beneficial interest in certain thermal coal property (the 'Property') located within the Navel & Planna Village, and Karjai Village, Tehsil and District Kotli, State of Azad Jammu and Kashmir (AJK), Pakistan. The Property consists of 2,230 acres of land and an application for additional 200 square kilometers.
Pakistan ranks seven amongst the top twenty countries of the world so far as the coal resources are concerned. 97% of coal reserves of Pakistan are of lignite rank and vast deposits of these occurs in AJK & Thar area.
Simon Tam, President of the Company, stated: 'Prior to the Company's option agreement with Mr. Gul Khan, test shipments of coal from the property were sold to a local cement plant owned by the Fauji Cement Company. The Fauji Cement Company used 1,128,258 MT of coal in its cement operations in 2010. The Company considers this is one of the potential coal customers in the area. Management has planned an aggressive exploration program and will continue to update our shareholders as these plans develop.'
On behalf of the Board of Directors Cooper Minerals Inc.
Simon Tam
President and Director
THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY JURISDICTION. 'SAFE HARBOR' STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: THIS NEWS RELEASE CONTAINS FORWARD LOOKING STATEMENTS THAT ARE NOT HISTORICAL FACTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE SET FORTH IN OR IMPLIED HEREIN.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Cooper Minerals Inc.
Simon Tam, President and Director
604-871-9930
604-871-9926 (FAX)
info@cooperminerals.com
www.cooperminerals.com