Name and Location
Springsure Creek underground thermal coal project, Queensland, Australia.

Client
Bandanna Energy.

Project Description
Springsure Creek will be an underground thermal coal project, located along the western margin of the Bowen basin.

The project will be developed in stages.

Stage 1 will comprise a single longwall to produce 5.5-million tons a year, while Stage 2 will result in the establishment of a second longwall and supporting infrastructure to produce a combined total of 11-million tons a year.

Value
Stage 1 will cost an estimated A$743-million to develop, while Stage 2 is expected to add A$437-million to the project’s total cost.

Duration
Production is scheduled to begin in the first half of 2015.

Latest Developments
The Queensland government has approved the environmental-impact statement (EIS) for the Springsure Creek underground thermal coal project. The decision takes the company another step closer to final approval for the project.

The project will now move into the final stages of regulatory approval for the grant of a mining lease.

Bandanna is a 14% shareholder in the Wiggins Island Coal Export Terminal (Wicet) Stage 1 at Gladstone, with port allocation of four-million tonnes a year for Springsure Creek. It has also secured the necessary infrastructure capacity for the integrated haulage of coal from the mine to the port.

However, the mid-2015 production and export start date for coal from Springsure Creek is still subject to the completion of the construction of Wicet Stage 1, set for March 2015, project funding and the grant of a mining lease.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Bandanna Energy, tel +61 7 3041 4400, fax +61 7 3041 4444 or email info@bandannaenergy.com.au.