Timing of Springsure Creek licence uncertain – Bandanna
PERTH (miningweekly.com) – ASX-listed coal developer Bandanna Energy on Friday acknowledged that the timing of construction of its Springsure Creek project, in Queensland, remained uncertain.
Bandanna told shareholders that the project development would be dependent on the finalisation of project approvals, as well as the company securing the required funding.
Six objections to the Springsure Creek project were filed during the public notification period for the mining lease application. The company said that it was hoping to resolve all the objections in the coming weeks, but noted that the grant of the mining lease for Springsure Creek would be dependent on the conclusion of this process.
The timing of the grant of the mining lease remained uncertain, Bandanna said.
The company had informed the Wiggins Island Coal Export Terminal (Wicet) of this fact, and was seeking to amend the commercial terms of its agreement with Wicet to better match a delayed ramp-up profile.
In November, the Queensland government approved the environmental-impact statement for the Springsure Creek project.
The project, which was expected to produce about 5.5-million tonnes a year during its Stage 1 operation, was initially expected to deliver its first coal by mid-2015.
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