PERTH (miningweekly.com) – Diversified junior Aquila Resources has confirmed that it would reduce the workforce at its $1.3-billion Eagle Downs coal joint venture (JV) project.
The miner noted that, in light of the current commodity price environment, the JV partners decided to focus on the critical path development tasks, and reprioritised some of the scheduled early works, in order to manage project expenditure.
The reduced labour figures formed part of this revised work programme.
Aquila reported that the JV partners were currently developing the project’s approved programme and budget for 2014, which would be presented for approval later this week.
Construction on site has also continued, with civil works around the portal drift access and site dams presently under way.
The 50:50 JV between Aquila and major Vale would produce some 5.1-million tonnes a year, and would have a life-of-mine of 47 years. Production was scheduled to start in 2016.