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- Release Date: 30/01/12 16:03
- Summary: MINE: BTU: Bathurst Signs Deed of Ground Lease with Port Taranaki
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BTU
30/01/2012 14:03
MINE
REL: 1403 HRS Bathurst Resources Limited
MINE: BTU: Bathurst Signs Deed of Ground Lease with Port Taranaki
Bathurst Signs Deed of Ground Lease
with Port Taranaki
Bathurst Resources Ltd (ASX & NZX: BTU) is pleased to announce that a Deed of
Ground
Lease with Port Taranaki Limited has been signed. This agreement is a
significant milestone
for the Buller Coal project further securing the route to market.
Under the agreement, Bathurst will construct a covered storage shed in an
area designated
to accept incoming coal from Port of Westport. The storage area is located
adjacent to a
deep water berth providing convenience for discharging and loading of vessels
and is large
enough to allow for future expansion as new projects come on stream.
The coal from Bathurst's Buller Operations will be of premium quality and in
high demand
from steel manufacturers around the world for use in steel making and high
end custom
coke manufacture.
Commenting on today's announcement, Bathurst's CEO Hamish Bohannan said:
"This agreement is a key step in the logistics chain for the Buller project
and we look
forward to working with Port Taranaki to progress further opportunities for
the storage
and shipping of our Coal.
Bathurst remains committed to realize the potential of this high quality coal
from New
Zealand's premier coal producing region in the West Coast of the South Island
and the
signing of this Lease is an important step."
On behalf of Bathurst Resources Ltd
Hamish Bohannan
End CA:00218975 For:BTU Type:MINE Time:2012-01-30 14:03:26
