Investment Minister meet coal mining company chief executive

LONDON: Federal Investment Minister Saleem Mandviwalla Tuesday met Chief Executive of Oracle Coalfields Shahrukh Khan and discussed with him progress on mining of Thar Coalfields.

The Minister congratulated Mr. Khan for listing of Oracle Coalfields on the London Stock Exchange's Alternative Investment Market (AIM) and hoped that the Oracle's venture in mining of coal from Thar Coalfields for production of electricity will go a long way in overcoming power shortages in Pakistan.

Khan explained in details the project for mining Thar Coal and expressed satisfaction over the cooperation from government of Sindh in the preparatory work for the mining.

Pakistan High Commissioner to UK Wajid Shamsul Hasan was also present at the meeting which took place in the Chancery building.

Oracle Coalfields PLC was incorporated in July 2006 on PLUS Markets in the United Kingdom as a public company specifically for investing in the coal mining sector in the province of Sindh.

In order to fund the financial appetite for a large open-pit coal mining project in Thar, the first of its kind in Pakistan, it was realized that a larger platform in the investor market would need to be secured.

On April 20 this year, Oracle Coalfields was admitted on the Alternative Investment Market (AIM) of the London Stock Exchange and the trading of company's shares started formally on AIM from the opening of the financial markets on the above

Copyright APP (Associated Press of Pakistan), 2011