Bandanna adds confidence to Springsure Creek
KALGOORLIE (miningweekly.com) – Coal developer Bandanna Energy has increased the measured resource at its Springsure Creek project, in Queensland, by some 35%.
The company said on Thursday that the revised resource statement now included a measured resource of 74-million tonnes.
MD Michael Gray noted that the increased resource further demonstrated the large-scale nature of the Springsure Creek project.
“The identification of a total resource of 533-million tonnes and, in particular, of the 35% increase in measured resource, confirms the potential for development of a world-scale thermal coal mine.”
Gray added that the revised statement also provided substantially increased resource confidence.
“With even greater confidence as to the size of the Springsure Creek project resource, its high coal quality, relatively low capital and operating cost structure, proximity to existing rail lines, secure port capacity and advanced state of approvals, Springsure Creek is uniquely positioned to become Australia’s next major thermal coal producer,” he said.
Bandanna had previously reported that a capital investment of some A$743-million would be required for the Stage 1 development of the Springsure project, which would deliver some 5.5-million tonnes of coal a year.
The second stage of the operation, which would increase production to 11-million tonnes a year, would require an additional capital investment of A$437-million.
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