Carabella launches feasibility study at Bluff
PERTH (miningweekly.com) – Coal developer Carabella Resources would launch a feasibility study for its Bluff coal project, in Central Queensland, after successfully completing a concept study.
The ASX-listed company said that the feasibility study was targeted for completion during the second half of this year.
The concept study established that the project could deliver up to one-million tons a year of saleable coal over a life-of-mine of more than ten years. The project was estimated to require a capital investment of some A$32.5-million, while operating cost had been estimated at A$96/t, excluding royalty costs.
“The study indicates attractive economics and upside potential under a range of market scenarios, notwithstanding the current difficult coal market conditions,” said Carabella MD Anthony Quin.
He noted that the project’s particular strengths included the high quality of the pulverised coal injection coal, the low capital expenditure and competitive operating costs, as well as the close proximity to key infrastructure.
“Carabella will now advance the project into a feasibility study phase. Subject to the outcomes of that process, we envisage commencement of mining activities in the first half of 2014,” Quin said.
In conjunction with the feasibility study, Carabella would also progress studies to assess the potential of extending the mine life of the project through underground extensions, once proposed opencut operations had been completed.
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