Polo is committed to creating a major international coal mining and exploration group with additional interests in uranium and iron ore.

Polo seeks to acquire, explore and develop coal projects that are strategically located to serve the increasing global demand for both thermal coal for power generation and coking coal for steel production.  In Asia, this growth has been particularly robust, most notably in China where the demand for imported coal has tripled since 2003. 

Polo holds a significant portfolio of coal assets in Mongolia and the strategic location of its licences will allow the Company to take advantage of Asia’s increasing consumption of coal. Polo’s strategy in Mongolia is to fast track into development the Union Coal Project and the Ereen Coal Project in 2008. Both projects have mining licences and can be progressed to development stage using existing infrastructure. Polo is targeting total production of 1 Mt of coal per annum commencing in the fourth quarter of 2008.  Coal production is targeted at 6,000 kcal/kg direct transported coal to China with plans to expand production after two to three years of operation. Polo has also targeted 1 Bt of high quality coal defined in resources over the next two years in the Erdenetsogt Basin, the Ereen Basin and the Tsaidam Basin.

Polo also holds a portfolio of uranium licences in Mongolia which will allow the Company to take advantage of the new construction of nuclear power reactors currently concentrated in Asia and the growing supply-demand imbalance in the uranium market.

Polo is also focused on several attractive potential acquisition opportunities consistent with its vision of rapidly building a significant global coal company, and with its strategy of acquiring coking and thermal coal assets at all stages of development.

The Company’s key criteria in identifying potential acquisitions and joint ventures are:

• for producing assets, those which offer the scope for management to utilise its experience to increase performance and profitability; and

• for development and exploration projects, licences that are in areas the Company deems prospective for coal exploration or which are regions of known existing production.

Polo will seek to take advantage of the current strong pipeline of available new investment opportunities in the coal sector and the backdrop of healthy global coal markets.

For more information please see Polo's Admission Document here (9.18 MB)