Australia's Modun signs offtake agreement for Nuurst coal project in Mongolia - Coal | Platts News Article & Story: "Australia-listed Modun Resources said Thursday it had signed a heads of agreement with Australian trader Tennant Metals for thermal coal sales from its wholly owned Nuurst coal project in central Mongolia.
Under the terms of the agreement, Tennant will have exclusive rights for 15 years to purchase 100% of the thermal coal produced at Nuurst for export and a minimum 50% of the thermal coal produced for sale in the domestic market. All sales will be at prevailing market rates, Modun said.
Nuurst has an estimated coal resource of 489 million mt, of which 417 million mt is indicated and 72 million mt inferred, the company said."
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