Stanmore adds tons to Belview
PERTH (miningweekly.com) – Coal developer Stamore Coal has increased the Joint Ore Reserves Committee- (Jorc-) compliant inferred resource at its Belview project to 322-million tonnes.
An exploration target of between 204-million and 306-million tonnes has also been established.
“Establishment of a significant resource estimate within the project’s northern area validates the company’s strategy of having expanded the footprint of Belview into shallower coal last year,” said MD Nick Jorss.
He noted that the large resource base demonstrated the potential to develop a major coking coal mine at Belview, which was surrounded by operating coal mines.
“The current downturn in the commodity cycle presents us with an excellent opportunity to lock in a low cost base for the Belview project, something that fits well with the company’s value-driven approach to project development.”
Jorss noted that reducing project capital and operating costs would also improve Stanmore’s prospects of attracting strategic partners and procuring construction funding for the project.
“Being located on the existing Blackwater rail line serving the coal ports of Gladstone, means Belview is well positioned to secure low cost rail and port capacity for the project,” he added.
In March this year, Stanmore launched a prefeasibility study on the Belview project, considering a 3.5-million-ton-a-year run-of-mine project, producing coal from a single underground longwall operation.
The start-up capital for the single longwall project had been estimated at some A$869-million, with a life-of-mine expectancy of 64 years.
The addition of a second longwall unit would cost an additional A$529-million and would increase production to seven-million tons a year.
The study was currently based on a 95-million-ton Jorc-compliant resource, with an exploration target of between 735-million and 1.1-billion tons.
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