ABACORE Capital Holdings, Inc. said on Tuesday that it upgraded an existing venture with Oriental Vision Mining Philippines Corp. (ORVI) from exploration and development to a coal operating agreement. READ:
“This is a development that will deliver long-term value to the holding company’s shareholders,” the company said in a press release.
AbaCore said that ORVI agreed to commercially operate coal block 85 within six months after signing and coal blocks 84 and 86 within a year. Mr. De Mesa added that the venture will help AbaCore in increasing its revenue and in strengthening its liquidity amid the price inflation of coal in the world market.
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