Announced to the Australian Stock Market on the 5th May 2008 a Memorandum of Understanding ("MOU") had been executed with Incitec Pivot Ltd ("IPL") The MOU provides for a Joint Venture Company to be established upon the successful conclusion of a commercial scale Syngas, oxygen-injected Underground Coal Gasification ("UCG") demonstration trial at Bloodwood Creek, in the Surat Basin, located 55km west of Dalby, in southeast Queensland.
IPL will gain exclusive global rights to the use of CEPL’s UCG technology for ammonia and ammonia derived product manufacture either within or outside of a joint venture with CEPL, by way of Technology Licence Agreements.
For further information regarding this agreement please see the full announcement on the link below -
MOU EXECUTED WITH INCITEC PIVOT LTD
Incitec Pivot Limited is a leading international chemicals company with nitrogen-based manufacturing at its core. The Company's continued growth is driven by global demand for fertilisers and explosives, which are essential inputs for agricultural and mining industries. http://www.incitecpivot.com.au/