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Foreign owner exits multinational coal producer

Blair Athol mine
Blair Athol mine

An Asia-backed investment company reportedly sold its minority stake in a mining company that operates in multiple countries.

Hong Kong-headquartered OCP Asia is rumoured to have disposed of TerraCom Resources shares worth $31.2 million.

News Limited speculated the deal involved trading 39M units for 80 cents each through Evolution Capital stock brokers.

If confirmed this effectively relinquishes OCP’s 5 per cent stake in Terracom, which operates the Blair Athol Coal Mine (282km southwest of Mackay), Springsure Coal Project (47km southeast of Emerald), Northern Galilee Project (245km southwest of Townsville) and Clyde Park Coal Project (310km southwest of Townsville).

The proponent also operates in South Africa.

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