Coal news and updates

Cuesta hikes Moorlands coal project resource to 281 mt

ASX-listed Cuesta Coal has announced a 92% resource increase to 281-million tonnes at its flagship Moorlands thermal coal project, near Clermont, in Queensland.

The company reported on Tuesday that the measured Joint Ore Reserves Committee-compliant resource has increased by 103.5-million tonnes to 118.9-million tonnes, further supporting the initial opencut mine plan at the proposed Moorlands South pit.

“This is a significant development for Cuesta and is further evidence that Moorlands is developing into a substantial thermal coal project with significant value. Within the space of 12 months, Cuesta has taken Moorlands from a circa 54-million-tonne deposit to completing the bolt-on acquisitions of EPCs 775 and 776, completing cost-effective and safe exploration activities to enable the announcement of today’s resource increase,” commented MD Matthew Crawford.

He added that the company’s immediate focus was on assessing the reserve estimate, which was expected to be completed over the next four to six weeks. The reserve estimate is a major input item into the definitive feasibility study.

Source: www.miningweekly.com