About

Coal Asia Holdings Incorporated (COAL) was incorporated on June 11, 2012, primarily to be the holding company of Titan Mining and Energy Corporation (TMEC), which is engaged in the operations of coal mining and energy-related business.

The Company owns 100% equity interest in TMEC. TMEC currently owns Coal Operating Contracts (COCs) in Davao Oriental and Zamboanga Sibugay. In 2016, preliminary mine development activities commenced at the Davao Oriental project, although TMEC is still awaiting the conversion of the COC from exploration to development and production. TMEC submitted a five-year work program with a feasibility study for the Zamboanga Sibugay project to the Department of Energy (DOE) in August 2016.

On January 22, 2025, the DOE terminated TMEC's COC No. 166 for failing to submit complete requirements for conversion from Exploration to Development and Production Phase, requiring TMEC to vacate and restore the contract area.

Separately, the Company received DOE approval to convert COC No. 159 to Development and Production Phase, subject to obtaining either a Certificate of Precondition or Certificate of Non-Overlap from the National Commission on Indigenous People.

Source: SEC Form 17-A (2024)