Bit of a news, confirms intention to proceed I guess?
FIVE Golden Triangle landowners have struck crucial compensation or sale agreements with Bandanna Energy for its Springsure Creek Coal Project, south-east of Emerald.
Signalling a major shift in the thermal coal project to a single longwall producing seven million tonnes a year, Bandanna announced improved coal reserves and lower predicted production costs of $65.61/tonne, excluding royalties.
Managing director Michael Gray said while the landowner deals over the proposed mine lease and transport corridor were confidential, they were pivotal to progressing the mining lease application process.
"We have been in discussions with landowners for a long time, but more particularly since the approval of the EIS with all the landowners on the mining lease and transport corridor," Mr Gray said.
"We have reached commercial terms with five, we previously had some agreements as well and we have a couple outstanding.
"We have a good dialogue with those landowners now and are trying to complete compensation and acquisition agreements which reflect the potential impact of the project and the longer term plans of those landowners.
"The majority of those agreements will be compensation rather than acquisition."
Co-development arrangements with the overlapping gas exploration permit holder have been finalised, while talks with the overlapping petroleum lease holders are well advanced.
