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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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.