Rio Tinto has reported an increase of Rio Tinto Coal Australia’s managed thermal coal resources at Mount Thorley Warkworth in New South Wales, Australia, compared to the previous estimates reported in Rio Tinto’s 2015 Annual Report.
The announcement of this increase is made simultaneously with the announcement by Rio Tinto that it has entered into a binding agreement for the sale of its Australian wholly-owned subsidiary Coal & Allied Industries Limited, which in turn holds an 80% interest in the Mt Thorley mine and a 55.6% interest in the Warkworth mine (as well as a 67.6% interest in the Hunter Valley Operations mine and a 36.5% interest in a coal export terminal at the Port of Newcastle).
The updated Mineral Resources are reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012 (JORC Code) and ASX Listing Rules.
Mount Thorley Mineral Resources exclusive of ore reserves have increased by 208 million t, from 114 million t to 322 million t.
Warkworth Mineral Resources exclusive of ore reserves have increased by 353 million t, from 613 million t to 966 million t.
This increase in Mineral Resources reflects a continuation of work on Rio Tinto Coal Australia deposits previously announced on 28 November 2014 and 3 March 2016. The updates are based on a rigorous examination of leases that included a reinterpretation of the geological model, employment of new datasets and adopting improved Mineral Resource estimation methods.
Read the article online at: https://www.worldcoal.com/coal/25012017/mount-thorley-warkworth-thermal-coal-resources-increases/