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AIM Exploration says it is well-placed as anthracite coal prices double in 2016

Last updated: 14:23 29 Sep 2016 BST, First published: 09:23 29 Sep 2016 BST

coal
The company plans to mine 1,000 hectares of land

AIM Exploration Inc (OTCMKTS:AEXE) said it is well-placed to capitalise on the resurgence in metallurgical coal prices.

Premium hard coking coal spot prices are at their highest level since February 2013, which is making the anthracite coal the company has in its Peruvian assets more attractive.

The company said the infrastructure is in place that will enable the coal to be shifted to waiting customers.

"AIM is close now to completing the marketing joint venture in Dubai with Prina Energy of India and it is anticipated formal purchase orders will be forthcoming,” said Bob Todhunter, president and chief executive officer of AIM.

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