Coal news and updates

Fresh estimates shows greater Stockton mine reserve

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."

source: http://www.worldcoal.com