Belvedere Coal ProjectThe Belvedere Coal Project is located 7 kilometres north-east of Moura in the southern part of the Bowen Basin region of Queensland. It is close to well established infrastructure including rail, power, water, sealed roads and local mining communities. The Belvedere Coal Project is a hard coking coal resource within the Baralaba Coal Measures that is potentially suited to large scale development. The project attracted the interest of Vale (formerly Companhia Vale do Rio Doce) in 2005 which resulted in an agreement whereby Vale conducted a detailed Exploration Study of the geology, coal quality and mining potential of the Belvedere Coal Project in return for options to acquire a participating interest. On completion of the Exploration Study costing A$17 million, Vale elected to exercise its option to acquire a 51% interest in the project by paying US$45 million to each of Aquila and AMCI. Vale also has further options to acquire the remaining project interests at fair market value in the future. Based on the Exploration Study results SRK Consulting was commissioned by the joint venture to produce an updated JORC resource statement. SRK Consulting estimated the current in-situ resource to be in excess of 3.8 billion tonnes, representing an increase of 1,211 billion tonnes on the initial resource estimate calculated in 2005.
Belvedere Coal Project - JORC Coal Resources (Mt)
The resource comprises of five primary seams within the Baralaba Coal Measures at depths of 60-800m below surface. Based on the drilling, seismic and coal quality analysis work to date, SRK Consulting is of the opinion that the Belvedere Coal Project has the potential to produce coking coal products and it is classified as a high rank, medium volatile bituminous coal. Following the completion of the initial Exploration Study, additional exploration activities were commenced during the year for the purposes of a Pre-Feasibility Study in order to further evaluate the resource potential and determine the preferred mining scenario for the commencement of operations. The Pre-Feasibility Study initially involves an extensive drilling, 3-D seismic and coal quality testing programme to assess the resource and define product specifications. The current development strategy recommended by the Exploration Study consists of a two longwall mining operation producing 7Mtpa of hard coking coal and PCI coal products, with the potential to increase up to 9Mtpa for export via the planned Wiggins Island Coal terminal near Gladstone. In August 2008 three Mining Lease applications were lodged over areas proposed for the development of mining operations. The Mining Lease applications are an integral stage in the advancement of the Belvedere Coal Project and planning is underway for the commencement of environmental baseline studies and related community consultation activities with all key stakeholders in this significant project development. Subject to completion of all necessary feasibility studies and receipt of relevant regulatory approvals, the Belvedere Coal Project is planned to commence exporting coal in 2014.
Belvedere Coal Project - Raw Coal Quality (Average)
Note: All results reported on an air dried basis. The estimates of Coal Resources for the Belvedere Coal Project presented on this website have been carried out in accordance with the JORC Code. The information that relates to Belvedere Coal Resources, is based on information reviewed by Mr Pat Hanna, who is a Fellow of the AusIMM and was previously an employee of SRK Consulting. Mr Hanna has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person. Mr Hanna consents to the inclusion on this website of the matters based on his information in the form and context in which it appears.. |
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