PERTH (miningweekly.com) – ASX-listed coal company Cockatoo Coal has increased its Joint Ore Reserves Committee-compliant reserve estimate for the Bowen basin projects by some 33%.
The company reported on Friday that recent drilling and coal quality tests had added some 17.5-million tons of marketable reserves to its Baralaba mine complex, taking it from 52.2-million tons to some 70-million tons.
The Baralaba mine and the Baralaba North projects were now estimated to have a marketable reserve of 33-million tons, while the Baralaba South project had a marketable reserve of 37-million tons.
Resources for the Baralaba mine complex also increased by three-million tons, to 346-million tons, with the Baralaba and Baralaba North projects reporting a 56% spike in measured resources, to 29-million tons, and 35% increase in the indicated resource, to 31.8-million tons.