AQC announce Dartbrook coal resource estimate

Australian Pacific Coal (AQC) has announced findings of an independent assessment of the coal resource at the Dartbrook project in New South Wales, Australia. AQC is currently in the process of buying Dartbrook from Anglo American and Marubeni Coal.

According to the independent assessment, Dartbrook contains a total coal resources estimate (CRE) of 1.2 billion t, comprising 466 million t of measured resources, 448 million t of indicated resources and 294 million t of inferred resources.

Coal quality analysis indicated the potential to produce an 8% ash (air dried basis) PCI product, as well as a range of thermal coal products between 10% and 18% ash on an air dried basis.

“This CRE confirms Dartbrook as one of the largest underdeveloped coal operations in the Hunter Valley,” said AQC’s CEO John Robinson Jnr. “It reaffirms our long-held believe that Dartbrook is a tier one mining asset.”

The assessment, which was undertaken by geological consultants, JB Mining, also showed the potential for a long mine life with low stripping ratios of 5:1 vertical coal tonnes to waste BCM.

AQC have agreed to pay AUS$25 million in cash to Anglo American and a further AUS$5 million to Marubeni for complete control of the Dartbrook Project. The purchase agreements also include royalty payments of AUS$0.25 per tonne to Anglo American up to a total payment of AUS$25 million and AUS$0.05 per tonne to Marubeni up to total payments of AUS$5 million.

Edited by Jonathan Rowland.

Read the article online at: https://www.worldcoal.com/exploration-and-development/24052016/aqc-announce-dartbrook-coal-resource-estimate-2016-832/