Paringa eyes 2017 start for Buck Creek No 2
PERTH (miningweekly.com) – Coal developer Paringa Resources had launched a bankable feasibility study (BFS) at the Buck Creek No 2 mine, in the US, following a positive scoping study.
“We are looking forward to rapidly progressing the BFS with the aim of starting construction during mid-2017. Moving directly to a BFS has been made possible by the comprehensive nature of the recent scoping study and the ability to leverage off the extensive work completed as part of the No 1 mine,” said Paringa CEO David Gay.
A scoping study into the No 2 mine found that for capital expenditure of $44-million, Paringa could deliver a 1.8-million-tonne-a-year operation with a mine life of 20 years.
“Typically, a coal project in the US at this stage would move directly into construction; however, we will complete the BFS to identify key areas for optimisation,” Gay said.
Paringa had previously taken the decision to develop the Buck Creek No 2 mine first, as part of a staged multi-project development strategy.
The Buck Creek No 2 mine is located within the Buck Creek mining complex just south of the proposed 3.8-million-tonne-a-year Buck Creek No 1 mine, which would require a capital investment of $127-million.
Meanwhile, formal financing discussions were continuing with debt financiers to fund the No 2 mine, Gay said.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Showroom
Complete range of security sealing solutions including security seals bags and labels.
VISIT SHOWROOM
CSIR International Convention Centre (CSIR ICC) - the leading conference and events venue in Pretoria/Tshwane.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
