Pre-hearing conference for environmental approvals has been set for Monday 13 Feb – formal court dates/judge availability will be known soon after the pre-hearing conference
All parties (NZ Residents Association, Forest & Bird and the West Coast Environmental Network) “seem pleased with the progress of mediation” (MD Hamish Bohannan)
“The project has enormous economic benefits for the community – job creation, supplies to be purchased locally, royalties and taxes to NZ government…we are confident of a positive outcome from the appeals process, but the only thing we can’t be confident of is the time it will take” (MD Hamish Bohannan). Note that the NZ government is run by conservative John Key, a former investment banker and likely pro-mining? The NZ government is also selling government assets – royalties and taxes from the BTU operation would likely be welcomed?
Reserves were recently increased to 17.3mil tonnes, Resources + Reserves increased to 81.7mil tonnes – predominantly hard coking coal – geologically scarce and trades at a premium
Contract recently signed to start mining at Coalbrookdale underground mine; production has also increased at the Cascade Mine in the South Buller Project – maiden exports last November
Production is expected to be 4mil tonnes per annum when both the North and South Buller mines are at full capacity
New Chief Operating Officer – Richard Tacon has solid credentials having overseen 6 mines whilst GM of Western Operations for Centennial Coal
I expect a strong re-rating should we get approvals aka LYC last week.
DYOR
