Bandanna postpones start of Springsure Creek rail agreement
PERTH (miningweekly.com) – Coal developer Bandanna Energy has revised its rail haul services contract for the proposed Springsure Creek project, in Queensland, pushing back haulage from July 2014 to January 2016.
Bandanna said on Wednesday that the revised timing to the start of rail haulage services, and take-or-pay charges for up to four-million tonnes a year of coal from the Springsure Creek project to the Wiggins Island coal export terminal (WICET), was to allow flexibility to accommodate any future changes to the construction schedule of WICET.
The first stage of WICET was currently set for completion by March 2015.
The revised rail haulage contract also allowed for smaller initial production volumes from Springsure Creek to be railed prior to the formal start of rail haulage in January 2016.
Bandanna had previously reported that a capital investment of some A$743-million would be required for the Stage 1 development of the Springsure project, which would deliver 5.5-million tonnes of coal a year.
The second stage of the operation would increase production to 11-million tonnes a year and would require an additional capital investment of A$437-million.
Subject to a number of factors, particularly the regulatory approvals and project funding, the Springsure Creek would likely start production by mid-2015.
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