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  4. Maiden JORC compliant mining reserve reported at Minas Moatize

Maiden JORC compliant mining reserve reported at Minas Moatize

World Coal,

Beacon Hill Resources Plc, the Mozambican coal producer, has released a maiden JORC compliant coal reserve statement for its Minas Moatize Coal Project in the globally significant coking coal region of Tete in Northern Mozambique.

Highlights


  • Total Mineable Reserve of 42.65 million t with a potential upside of a further 7.9 million t. The mineable reserve represents the in situ portion of the geological resource that is economically mineable.
  • Total mineable reserve includes a marketable reserve of 23.45 million t, representing the saleable portion after mining and processing of the resource, of which at least 8.72 million t is coking coal.
  • Confirmation that Minas Moatize has a mine life of up to 14 years.
  • Completion of mine plan, which forms a part of the Definitive Feasibility Study (DFS) has been finalised and supports the reporting of Coal Reserves in accordance with the JORC code.
  • The DFS, due for release later this quarter, continues to be based on a 4 million t per annum run of mine operation producing in excess of 2 million tpy of saleable hard coking and thermal coal for the life of mine.

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    The chairman of Beacon Hill, Justin Lewis, commented: “We have a marketable reserve of 23.45 million t of coal, of which over one third is coking coal, a proven end to end export solution as highlighted by the commencement of shipping in December 2011, near term coking coal production and the full results of the DFS due to be released later this quarter.”

    Read the article online at: https://www.worldcoal.com/coal/02022012/beacon_hill_resources_reports_new_reserve/

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