Aviva fulfills Mawana Minerals agreement

Aviva is pursuing the development of a coal mine supplying four million tonnes of coal per annum to an integrated power development pumping out at least 1,000 megawatts (MW). The Australian company also plans to produce between six and 12 million tonnes of coal per annum for export.

According to Heads of Agreement signed between Aviva and Mawana Minerals in June 2007, Aviva was required to spend US$0.5 million (P3.3 million) over 18 months upon which Mawana would grant the Australian company the exclusive rights to earn a 90-percent interest in the project. The Australian company would also be required to undertake a BFS to finalise the agreement.