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TerraCom’s Blair Athol Mine life extended to 10 years

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World Coal,

TerraCom Ltd, an emerging resources company with a large portfolio of operating assets in Australia and South Africa, has advised that the life of the Blair Athol Mine (BA) has been extended to approximately 10 years following an updated to the BA Coal Reserve.

The company engaged independent experts, Deswik Mining Consultants (Australia) Pty Ltd, to complete a revised JORC assessment of the company’s BA operation in Clermont, Queensland. The coal reserves have been reported in accordance with the standards outlined in the 2012 edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code).

At 30 June 2021, the BA JORC Marketable Reserves totalled 19.5 million t. Based on a 2 million t sales profit, the mine for the BA operation is approximately a further 10 years.

On 10 August 2021, the company advised July 2021 operating EBITDA results of AUS$13.6 million for BA, representing a cash margin of AUS$58/t.

Executive Chairman, Craig Ransley, said: “This latest JORC Reserve result means that the Blair Athol operation will effectively be able to operate for 14 years under TerraCom owndership (since acquisition in May 2017).

“Blair Athol has already contributed significantly to the TerraCom group and we look forward to a further 10 years contribution from the operation.”

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Australia coal news Queensland coal news