In November 2005, Altona acquired (through its wholly owned subsidiary Arckaringa Energy Pty Ltd) a 100% interest in three exploration licences covering 2,500 sq. kms in the northern portion of the Permian Arckaringa Basin in South Australia including three coal deposits – Westfield (EL4511), Wintinna (EL4512) and Murloocoppie (EL4513). All three deposits lie close to, or across, the Adelaide to Darwin railroad and the Stuart Highway.
Containing more than 7.8 billion tonnes of coal (non JORC), the company’s Arckaringa coal deposits are a vast resource capable of conversion into highly saleable methanol for Australia and the world.
Altona's current focus is on defining a work program for the coal to methanol Arckaringa project.