Boost for Isaac Plains coal output
The company said the extra capacity added certainty for the company to pursue options to take its coal handling and preparation plant to its nameplate capacity of 3.5Mtpa ROM.
In announcement to the ASX, it said the Isaac Plains complex's reserves and resources were sufficient to allow it to ramp up production to match that capacity.
It is increasing its production guidance for the 2019 financial year from 1.8Mtpa to 2Mtpa.
Isaac Plains was in care and maintenance when Stanmore Coal bought the coking coal asset from Vale and Sumitomo Corporation in 2015.
As well as bringing Isaac Plains back online, the new owners began producing coal in August from the satellite Isaac Plains East pit.
That resource has taken the operation’s expected mine life to eight years and the nearby Wotonga South tenement purchased from Peabody Australia in June stretches it beyond 15 years.
The North Queensland Cowboys have received Northern Australia Infrastructure Facility (NAIF) approval for a $20 million loan to build their planned Co...