https://www.miningweekly.com

Paringa increases measured resource in US

25th February 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Coal junior Paringa Resources has increased the measured and indicated resource at its Buck Creek mining complex, in the US, by 54%, to 211-million tonnes.

The company pointed out on Wednesday that the measured and indicated resource represented 98% of the total 216.5-million tonnes at the Buck Creek complex.

“The updated coal resource estimate confirms our Buck Creek No 1 mine as one of the largest predeveloped coal operations in the Western Kentucky region of the Illinois coal basin,” said Paringa CEO David Gay.

He noted that the updated estimate, along with the new strategic coal leases, have allowed Paringa to expand on its contiguous resource base that now extended to over 21 km, and would allow the company to increase the prefeasibility mine plan for Buck Creek No 1.

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.

A 2014 scoping study indicated that the Buck Creek No 1 mine could deliver 3.4-million tonnes a year of saleable coal, over a mine life of 16 years, and would require a capital investment of $76-million, along with a coal handling and process plant and barge load-out facility of $33-million, bringing the total capital cost to $109-million.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Virtual Gas Network (Pty) Ltd
Virtual Gas Network (Pty) Ltd

Virtual Gas Network supplies compressed natural gas via a virtual gas distribution network.

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.052 0.721s - 111pq - 2rq
Subscribe Now