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Rio reports increased Hunter Valley coal reserves

World Coal,

Rio Tinto Coal Australia has reported a significant increase of its managed thermal coal reserves and resources in the Hunter Valley of New South Wales, Australia, compared to previous estimates in the company’s 2013 Annual Report.

  • Ore Reserves increase by 546 million t, from 1331 million t to 1877 million t.
  • Total Mineral Resources exclusive of Ore Reserves increase by 369 million t, from 2349 million t to 2718 million t.

Commenting on the news, Rio Tinto Coal Australia Managing Director, Chris Salisbury, said: “The coal assets managed by Coal & Allied in the Hunter Valley are truly world class and offer a large, contiguous footprint within the most attractive sections of the coal district.

“An extensive drilling program over many decades means we have high confidence in our increased understanding of our coal assets and their quality, which is characterised by shallow, thick seams with little geological faulting.

“This discovery of greater coal reserves and resources is the result of more than a year’s work and forms part of our wider efforts to deliver greater value to our shareholders. We continue to examine our asset base for further opportunities.

“Our extensive reserve and resource base, further amplified by this latest announcement, provides many options to sustain and grow our business in the Hunter Valley for many decades to come.”

The update is based on a rigorous examination of all of the Hunter Valley leases.

Adapted from press release by Katie Woodward

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