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Managing director Ken Barker said the resource upgrade brings the proposed opencut mine closer to its 4-5Mt per annum target.
The quality of coal has also been upgraded, with extensive laboratory and preparation plant simulation modelling identifying a single washed thermal coal product at 9.8% ash.
"There is a much higher level of confidence in both the quantity and quality estimates of the Elimatta resource. This encourages the company to progress the feasibility study of an opencut mine development," Barker said.
