BRL
18/06/2014 15:45
MINE
REL: 1545 HRS Bathurst Resources Limited
MINE: BRL: Bathurst receives AEO for Escarpment
BATHURST RECEIVES AUTHORITY TO ENTER AND OPERATE FOR ESCARPMENT
Bathurst Resources Limited ("Bathurst" - NZX/ASX: BRL) is pleased to announce
that it has received the Authority to Enter and Operate (AEO) for the
Escarpment Mine Project from the landowner - the Department of Conservation
(DOC). The company is now able to proceed with earthworks and site
preparation at Escarpment in readiness to quickly move into full mining
operations once global coking coal prices recover.
Initial works will comprise site clearing, establishing initial water
management dams and drainage systems, installation of coal stockpile areas,
site roads and basic infrastructure including a site office and amenities.
Coal production areas will be cleared and other earthworks will be undertaken
to prepare the site to transition to steady state operations when economic
conditions warrant full commercial production. Activities are scheduled to
commence from 1 July 2014.
Coal recovered in the initial construction phase will be sold into the
domestic industrial market. It is envisaged that approximately 35,000 tonnes
will be recovered in the first 6 months of site works. Some coal will also be
dispatched for trials to coke and steel producers in Japan, India and other
Asian markets.
Bathurst has now lodged a bond with the Buller District Council, West Coast
Regional Council and DOC. The company will also be making its first payment
as part of the $22 million compensation package to DOC as agreed under the
Access Arrangement.
Bathurst Resources Managing Director, Hamish Bohannan, said "We are delighted
to be able to commence activities at Escarpment. This initial construction
phase is the important first step in developing a full scale export coking
coal operation at Buller. It's also a positive development for the West Coast
community".
End CA:00251736 For:BRL Type:MINE Time:2014-06-18 15:45:42
