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Gold/Mining/Energy : Gasification Technologies

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From: zebra4o1	12/6/2009 8:56:58 PM
	of 1740

Carbon Energy enters Chile Angie Tomlinson Monday, 7 December 2009 AUSTRALIA-listed Carbon Energy has signed an agreement with Antofagasta Minerals to jointly assess and develop a coal deposit in Chile using its underground coal gasification technology. Carbon Energy will earn a 30% interest in the Mulpun coal deposit in exchange for its UCG technology. The company will also fund 30%, about $A4.5 million, of the cost of the design, construction and operation of a trial plant on the Mulpun site. A successful trial will lead to development of commercial projects, with a decision expected on commercial go-ahead in 2011. “Chile is an ideal market opportunity for Carbon Energy – energy demand is forecast to grow at 6 to 7 per cent over the next five to 10 years and there is a reliance on high-priced imported diesel, natural gas, LNG and coal,” Carbon managing director Andrew Dash said. “As Carbon Energy is cost-competitive in our home market in Queensland, where there are abundant supplies of coal and gas, we are confident that the joint venture will have no difficulty competing in Chile against imported energy sources. “By way of example, a 200-megawatt power station in Queensland would generate approximately $70 million per annum. In Chile, the same-sized plant could generate between $140 and $210 million per annum.” petroleumnews.net

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