The memorandum of understanding expands on the relationship between the two parties, beyond the recently announced 4% sale of Felix’s Minerva Mine and Athena exploration project to Kores.
Felix and Kores will work together supplying coal to the expanding Korean market and also in developing clean coal technology using Felix’s Ultra Clean Coal Process (UCC).
Korea is part of the recently formed Asia-Pacific group of six countries (AP6) which are working towards collaboration on the cleaner use of coal.
“Energy security is clearly back on the agenda in Asia,” Felix managing director Brian Flannery said.
“High electricity growth coupled with higher oil and natural gas prices has countries all over the world refocusing on energy security.”
Flannery said strengthening its relationship with Kores was a significant move for Felix.
