Linc Energy Ltd. (LNC.AX) has signed letter of intent with Xinwen Mining Group to develop underground coal gasification or UCG and Gas to liquids in China. Linc specified that this deal covered Yinan and Yibei coalfields and had reported 15.37 billion tonnes of coal and exploration target of another 14.87 billion tonnes through further drilling.
Under letter of intent, the companies have agreed to negotiate terms of formal deal to form joint stock company for to develop UCG fields to produce gas for transport directly to Shanghai. It is expected that all negotiations and the establishment of the joint stock company will be finalised by the end of 2008.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.