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Comet Ridge holds potential for Acacia

6th March 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – A prefeasibility study into junior Acacia Coal’s Comet Ridge project, in central Queensland, has proven that the project was economically feasible.

For a capital investment of some A$50-million Acacia could establish a ten-million-ton run-of-mine operation, producing between 350 000 t/y and 450 000 t/y of saleable product.

First coal was expected in the fourth quarter of 2015.

Acacia told shareholders on Wednesday that the Comet Ridge had been identified as a potential mine development owing to a number of favourable factors which contributed to the relatively low capital cost. These include its close proximity to existing rail infrastructure, the shallow nature of the coal, minimal environmental impact and the relatively small scale of the operation.

Acacia would now progress the project to bankable feasibility study status over the next 12 months.

Edited by Creamer Media Reporter

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