Coal news and updates

Yancoal receives mining lease for Moolarben coal mine in Australia

Yancoal Australia has received a mining lease from the New South Wales Department of Industry Resources and Energy for the Moolarben stage two project.

The lease includes all land within the 3,741ha of four mining lease applications lodged on 1 May 2008, 20 March 2009, 21 April 2009 and 13 August 2013.

Yancoal said that the receipt of the mining lease is a positive next step in the approvals process and is now awaiting approval of a mining operations plan.

The integrated Moolarben Coal Complex, including Stage I and Stage II, is expected to produce around 17 million tons of run of mine (ROM) coal per annum for a period of 24 years, once fully developed.

The approval will allow the firm to develop two underground mining areas and an additional new open cut pit to the east of the Moolarben operation's approved open cut coal mines.

Moolarben Coal operation also produces both thermal and coking coal.

Moolarben Coal Operations is the operator of the Moolarben Coal Complex on behalf of the joint venture partners, including Yancoal Australia (81%),a consortium of Korean companies represented by Kores Australia Moolarben Coal (9%), and Sojitz Moolarben Resources (10%).

source: http://coal.energy-business-review.com