World-class Coals - November 2007 (complete) (PDF, 2.3 MB)
World-class Coals - November 2007 (complete) (PDF, 2.3 MB)
World-class Coals - November 2007 (complete) (PDF, 2.3 MB)
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24<br />
Lenton<br />
New Hope Corporation has applied for ML 70337<br />
covering the Lenton coal deposit which is about 50 km<br />
north-north-east of the township of Moranbah in the<br />
Bowen Basin. The deposit lies in an area adjacent to the<br />
north-western boundary of the Burton mine.<br />
Exploration adjacent to the known deposit is targeting<br />
both open-cut and underground resources in the Rangal<br />
Coal Measures.<br />
Products are likely to include a range of coking, thermal<br />
and PCI coals subject to coal preparation options that<br />
are yet to be determined.<br />
Monto<br />
Macarthur Coal Limited, through its wholly-owned<br />
subsidiaries Monto Coal 2 Pty Ltd and Monto Coal Pty<br />
Ltd, and other joint-venture partners planned to develop<br />
a small open-cut mine south of Monto, with an initial<br />
capacity of up to 1 Mt/a high-volatile thermal coal.<br />
Mining Lease 80101 was granted on 21 April 2005.<br />
Monto Coal 2 Pty Ltd holds a 51% interest in the Monto<br />
Coal Joint Venture and Monto Coal Pty Ltd is the operator<br />
for the joint venture.<br />
The company has reported that the inferred coal<br />
resources within its mining and exploration tenements<br />
at Monto (ML 80101, EPC 613 and EPC 683) exceed 500<br />
Mt and include 55 Mt <strong>class</strong>ed as ‘measured resources’<br />
and 66 Mt <strong>class</strong>ed as ‘indicated resources’.<br />
As reported by Macarthur Coal Limited in its Preliminary<br />
Final Report for the year ended 30 June <strong>2007</strong>, further<br />
Queensland's <strong>World</strong>-<strong>class</strong> coals (<strong>November</strong> <strong>2007</strong>)<br />
www.dme.qld.gov.au<br />
progress was made with the Monto coal project when<br />
in June <strong>2007</strong>, the company entered into an agreement<br />
to issue an option (with an option fee of $2 million) to<br />
a non-related third party to buy all the shares of Monto<br />
Coal Pty Ltd and Monto Coal 2 Pty Ltd, two wholly owned<br />
subsidiaries of Macarthur Coal Limited, for a total<br />
purchase price of approximately $41.95 million, subject<br />
to the satisfaction of several conditions precedent.<br />
The option period began on 1 July <strong>2007</strong> and ended on<br />
15 October <strong>2007</strong> however the sale would be subject to<br />
pre-emptive rights held by the existing minority partners<br />
in the joint venture.<br />
In early October <strong>2007</strong> a media report indicated that<br />
further legal action had been initiated by the minority<br />
partners in relation to this project.<br />
Rail haulage of export coal – central Queensland<br />
Photo: QR National
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