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Low cost development of Kentucky coal mine identified

World Coal,

Paringa Resources has confirmed that there is potential for low cost capital development of barge waterways, rail and road coal transportation at the company’s Buck Creek thermal coal project in the Illinois Coal Basin, Kentucky.

The project will likely benefit from its close proximity to coal mining equipment, services industries and skilled labour, according to Paringa’s review of regional infrastructure. Buck Creek also lies close to competitive power and water utilities.

The review will be incorporated into the Scoping Study for the Buck Creek project, which is due for completion by the end of March 2014.

The thermal coal project is located beside some of the highest margin thermal coal mines in the country that are owned by the second largest US coal firm, Alliance Resources Partners.

An independent study has confirmed Buck Creek coal thermal coal to have  higher heating value, lower sulfur and lower chlorine levels, positioning it as a premium product in the Illinois Basin.

The project has a JORC Resource of 154 million t. 

Edited from various sources by Sam Dodson

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