For those who missed this release last month might be interested in the following.
MEDIA ALERT Full text For queries regarding this item, contact [email protected] Stanmore plans coking coal mine Morning Bulletin, Rockhampton QLD by Di Stanley 12 Mar 2013 General News - page 9 - 165 words - ID 185115808 - Photo: No - Type: News Item - Size: 109.15cm2
BLACKWATER: Stanmore Coal has unveiled plans for an $869 million underground longwafl mine east of R~ckwater, with first coal in 2017.
Managing director Nick Jorss said the industry downturn had led to a cost-competitive environment that gave Stanmore confidence in getting the Belview coking coal project across the line.
Stanmore believes it can deliver coal to market with a profit margin of US $93 a tonne. based on 80% of the Belview coal producing premium grade coking coal.
The mine construction horizon through to 201516 is limited in the Bowen Basin.
"I think we will benefit from a less inflationary market," Mr Jorss said.
"Contractors are getting keener in pricing; it’s a much better market now. Now is the time to be developing and building coal mines." In November, the Brisbane-based company paid billionaire Clive Palmer $5.lm for an adjoining coal tenement EPC 1186 which gives access to a 1argei~ shallower resource to begin mining before chasing deeper seams.
Stanmore this week released an updated Xenith Consulting concept mining study.
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