Stanmore Coal has entered into binding agreements to acquire a 600 t excavator (CAT 6060) for the Isaac Plains East mine from Hasting Deering (Australia) Limited. The trucking fleet required to support the excavator will be supplied by Golding. This equipment will join the operations at the Isaac Plains East mine and will either move prime overburden in front of the dragline or overburden in dedicated excavator and truck pits uncovering coal.
Stanmore Coal will finance the excavator through an equipment loan facility set up with Caterpillar Financial Australia Limited a lender associated with the OEM supplier. The term of the loan is five years.
Once the environmental approvals are granted for the Isaac Downs Project, it is planned that the excavator will transfer to Isaac Downs to commence the box-cut operation to establish the mine. Operations at Isaac Plains East will continue in parallel with the development of the Isaac Downs Project.
The total investment required is approximately AUS$13 million, which includes additional workshop facilities and associated equipment expenditure at Isaac Plains to support efficient maintenance practices. The typical life of this equipment is more than 10 years, so this capital investment is an integral part of the Isaac Plains East operations in the short term.
Amendment to mining services agreement
Amendments to the mining services agreement have been agreed with Golding to include the operation and maintenance of the excavator and the supply of the associated trucking fleet. The inclusion of this additional fleet will enable Stanmore Coal to operate the existing site infrastructure at capacity which is matched to the port contracts. With the inclusion of the additional fleet, Stanmore Coal has retained its flexibility to scale up and down production through a cost-effective structure.
To read the full report: file:///Users/admin/Desktop/446bgwcfpvbbgs.pdf
Read the article online at: https://www.worldcoal.com/handling/04072019/stanmore-coal-acquires-600-t-excavator-to-improve-open-cut-efficiency-at-isaac-plains-east-mine/
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