August 31, 2017
Potential investors have been told that Moreton Resources aims to extract its first coal from its Coolabunia coal mine in the last quarter of 2019.
Executive chairman Jason Elks presented an update on the company’s activities at the Mining 2017 Resources Convention in Brisbane on Wednesday.
The Moreton figures predicted 10Mt of coal a year could be extracted from the mine over the next 25 years, with a workforce of “400-600 in a skilled catchment”.
Since the project’s pre-feasibility study was completed, the value of export thermal coal had doubled from the estimate of $50/Mt to $103/Mt; and the estimated output had risen 80 per cent from 5.5 Mtpa to 10 Mtpa.
The conference was told the preferred route to get the coal to port was the Kingaroy-Theebine rail route, with potential southern routes now discarded.
Mr Elks said the Environmental Impact Statement for the project was now 50 per cent complete (August 2017) with some sections 80 per cent complete.
The aim was to lodge a Draft EIS with the State Government before the end of this year.
The conference was also told that there had been “comprehensive consultation” in the South Burnett about the project since 2014.
They heard that a Galaxy Poll in 2016 had shown 62 per cent of region supports economic growth through a new mine, 79 per cent were keen for mine employment and 24 per cent were concerned about noise, dust and water contamination.
Moreton aims to have its Mining Lease approval and finance in place before the fourth quarter of next year.
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