Red Island Minerals

Red Island Minerals Ltd (RIM) is a Perth Western Australia-based coal development company operating in Madagascar. The company is wholly owned by PTT Asia Pacific Mining Pty Ltd,{{cite web |title=Company Overview of Red Island Minerals Ltd. |url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=172012065 |newspaper=Bloomberg Business |accessdate=17 December 2015}} a subsidiary of PTT Public Company Limited, a state-owned Thai company.{{cite news | url= http://www.bangkokpost.com/print/282635/ | title= PTT buys Madagascar coal mine in US$50-million deal | first1 = Yuthana | last1 = Praiwan | first2 = Nareerat | last2 = Wiriyapong | date= 3 March 2012 | newspaper = Bangkok Post |accessdate=16 December 2015}}

Red Island Minerals was founded by Sam Malin under the name Petrosearch International on 2 March 2005.{{cite web |url=http://www.greatmining.com/mining-company-Red-Island-Minerals.html |title=Red Island Minerals Information |publisher=GreatMining |accessdate=17 December 2015}} Its name was changed to Red Island Minerals in 2008.

Red Island Minerals develops the Sakoa coal field in southwestern Madagascar. It operates through its wholly owned subsidiary, Madagascar Consolidated Mining SARL, in which the Malagasy government agency OMNIS holds a minority stake.

Sakoa Coal Field

The Sakoa Coal Field is in the southwest of Madagascar and coal was first discovered in the area in 1908. Small-scale mining was undertaken during World War II. Drilling results indicate that the field is large with a seam measuring up to {{convert|12|m|ft|0|abbr=on}} thick in places. The product is a thermal coal similar in specification to coal currently being exported by South Africa and is likely to be used in power plants in India and Western Europe. It was estimated in 2015 that 200 million tonnes of coal are recoverable from the field, with an estimated potential resource tonnage of over one billion tonnes. It is expected that the coal will mostly be mined by the open pit method,{{cite web |url=http://www.vunacapital.com/?coal-exploration-madagascar,204 |title=Red Island Minerals |work=Coal Exploration Madagascar |publisher=VUNA Group |accessdate=17 December 2015}} and that extraction will initially be at the rate of five million tonnes per year.{{cite book|author=Geological Survey|title=Minerals Yearbook: Area Reports: International Review: 2011, Africa and the Middle East|url=https://books.google.com/books?id=M8U_NOcpKygC&pg=SA26-PA8 |date=1 December 2013|publisher=Government Printing Office |isbn=978-1-4113-3669-8 |page=26}}

References

External links

[http://www.miningweekly.com/article/thai-group-ptt-mining-to-buy-straits-resources-2010-11-11 Thai group PTT Mining to buy Straits Resources]
[http://www.miningweekly.com/article.php?a_id=124889 Straits Resources Ltd acquires Red Island Minerals]

Category:Coal companies of Madagascar

Category:Coal companies of Australia

Category:Companies with year of establishment missing