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Stockton mine reserve update

Published by
World Coal,

Atlantic Coal has announced that Wardell Armstrong International Ltd have re-assessed the Stockton reserve. The international mining consultants estimated the reserve at 2.220 million t on 31 December 2014. The estimation is greater than the John T. Boyd estimate of 1.626 million tons on 31 December 2013.

Noting that more than 165 000 t was produced in 2014, this new estimation equates to a 37% increase in the reserve base. This is largely due to the increased reserves in the Mammoth seam but also to a higher proportion of coal remaining from previous underground mining in the Primrose, Orchard and Diamond seams than was previously estimated.

Atlantic Coal's Managing Director Steve Best said: "We are pleased to announce this increase in Stockton's reserve base and subsequent expected mine life extension of three years. An added bonus is the 28% decrease in the mining ratio since this is the primary determinant of mining cost and, as such, enables us to look ahead with confidence."

Adapted from press release by Joseph Green

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