Northern Energy Corporation (NEC)

Shares / Stock Code

NEC

Stock Exchange / Sharemarket

Australian Securities Exchange

Northern Energy Corporation (NEC) is an exploration company primarily searching for coal, with tenements mainly in Australia. Key projects are located in Northern NSW and Queensland. NEC has a key objective in developing a diverse range of coal products including thermal coal and hard coking coal to be sold to both the export and domestic markets. Exploration companies aim to discover and delineate occurrences of metals and minerals that can be economically mined and extracted.

The company was listed on the Australian stockmarket (ASX) in July 1998 as Poltech International Limited (PLL). In 2005, the company changed its name to Northern Energy Corporation Limited (NEC). Later in 2006, Northern Energy Corporation announced an MOU with Sojitz Corporation of Japan to form a Joint Venture on the Emerald coal project and the initial Maryborough exploration programme is being partially funded by the Japanese government.

Northern Energy Corporation focuses on several coal projects in NSW and QLD. The company has four active projects and is currently defining two projects hosting high-quality coking coal, which are the Ashford project, a hard coking coal project located in Northern NSW and the Maryborough project located in the Burrum coalfield QLD which produces coal for domestic use. NEC also holds thermal coal deposits which are the Elimatta project in southern QLD and the Yamala project.

NEC competes with other exploration and mining companies dealing in the area of coal based in Australia and overseas. Competitors include Paladin Energy and Centennial Coal. NEC customers include electricity companies, the industrial sector as well as companies that produce liquid fuels such as gasoline and diesel.

The Company has a number of granted exploration tenements in Northern New South Wales (NSW) and south-east/central Queensland. The tenements are known to contain both coking and thermal coals. Its projects include Elimatta EPC 650, Maryborough EPC 923, Yamala Coal Joint Venture and Ashford Project. The wholly owned subsidiary of the Company is Taroom Coal Pty Ltd.

Northern Energy Corporation (NEC) Products and Services

  • Coal exploration.

Northern Energy Corporation (NEC) Locations and Subsidiaries

Northern Energy Corporation Head Office
Level 5, 60 Edward Street, BRISBANE,
QLD, AUSTRALIA, 4000
Phone: 07 3303 0695
Fax: 07 3303 0601

Northern Energy Corporation (NEC) Share Price

Submitted by ASX Listed Company on 14 May, 2010 - 21:16

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