https://www.miningweekly.com

Paringa secures more land at Buck Creek

18th February 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Coal hopeful Paringa Resources has secured two new coal leases within its Buck Creek mining complex, in the US, bringing the total land-holding in the district to some 8 500 acres.

“Our successful leasing programme has significantly de-risked the development of the Buck Creek No 1 mine, and paved the way for a substantial expansion to the prefeasibility plan,” said Paringa CEO David Gay.

“We have an exciting six-month period ahead with the Joint Ore Reserves Committee coal resource estimate update, prefeasibility study results for Buck Creek No 1 and results from the Buck Creek No 2 mine’s technical study.”

The study on the Buck Creek No 1 mine would be completed during the March quarter, while the technical study for Buck Creek No 2 was due in the September quarter.

Cash flow from the proposed Buck Creek No 1 mine would assist with the development of Buck Creek No 2.

The continuation of the leasing programme would underpin ongoing technical studies at Buck Creek No 2, and would assess the potential third mine development.

“The Buck Creek mining complex is truly the last remaining large-scale, undeveloped coal deposit in the Illinois basin with direct barge access to the Ohio River market,” Gay said.

Edited by Creamer Media Reporter

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.154 0.19s - 90pq - 2rq
Subscribe Now