Despite the difficult coal market, Australian contract miner, Bounty Mining, has continued to develop the Wongai coal project over the past year as an “effective asset […] to establish a long-term presence without the risks of contract termination that have occurred in previous downturns,” the company said in its 2015 Annual Report.
The Wongai project has confirmed high-quality hard coking coal in a very shallow, large resource base. Bounty is continuing to work to move the project from concept study stage to prefeasibility study stage and, when this is complete, will have earned 22.5% equity in the project. Further development will allow the company to move to 51% ownership.
Edited by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/exploration-and-development/13102015/bounty-mining-continues-to-progress-wongai-coal-project-3004/