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‘Enough Coal For 30-Plus Years’

Filed under Breaking News, Business, Latest News

Moreton Resources CEO
Jason Elks

August 8, 2014

Moreton Resources says there is another coal in its Kingaroy deposit to sustain a “30-plus year” coal mine.

The company released the results of its Mine Concept Study for its proposed coal mine near Coolabunia to the ASX today.

CEO Jason Elks said the average production would be 5 million tonnes per annum, which exceeded Moreton’s expectations.

The all-important strip ratio was approximately 7:1 (ie 7 tonnes of waste to one tonne of coal), which again exceeded the company’s expectations.

Mr Elks has previously stated that the mine would be targeting selling coal to the nearby Tarong power stations.

“Preliminary coal quality analysis and washability tests have indicated it is likely that the company can achieve an average ash content of below 28 per cent, which was the published cut-off in 1984 for feed stock to Tarong Power Station,” Mr Elks said.

An independent consultant would now be engaged to review these coal quality results.

“The Board and Management believe the Kingaroy project has potentially compelling commercial advantages that continue to become apparent at each stage of this process,” Mr Elks said.

“Therefore the company will now make approaches to potential partners that could benefit from this, including the appropriate levels of government, the existing owners and potential future owners of the Tarong Power Generation assets.

“The company will also now seek to engage with the broader community and stakeholders in seeking support for this project, while acknowledging this is still a contemplative prospect.”

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One Response to ‘Enough Coal For 30-Plus Years’

  1. Grant Newson

    I see Mayor Kratzmann voicing his support for having another open cut coal mine within the Shire.

    I do wonder if he actually even considered the major side effects of having a toxic health hazard so close to a heavily populated town (or anywhere for that matter). The impacts from this type of industry are well known and published widely.

    The other consideration is what they are actually going to do with any coal extracted? Fossil fuel usage will decrease once we rid ourselves of the fossil fools running Australia and Stanwell have stated they don’t require it. Export prices are down and the future of that market looks like decreasing also.

    All the hype of jobs jobs jobs, the overwhelming majority are only short-lived initial employment. For the future of health, water, air and the environment within the surrounds of Kingaroy and Shire, residents need to say NO to this development, even with the LNP making it almost impossible for anyone to have any objections at all.

    Under their proposal, objection rights to mining leases would be limited to landholders directly affected by a mining lease. Others affected by impacts of coal and gas mining — for example on groundwater resources, on local businesses and the economy — would be denied the opportunity to object.

    It’s not what the South Burnett tourism sector needs nor does the health of our next generation need endangering.