The Wandoan project would generate significant investment infrastructure in the Surat Basin and facilitate the development of other proposed mines in the area.

“The March quarter had MetroCoal preparing to continue progression on its Bundi project,” MetroCoal said in a statement.

“While cash preservation had been the strategy towards the end of 2012, MetroCoal has taken the initiative to progress further work on this thermal coal project in the Surat basin with the objective to submit a mining lease application in late 2013.”

A key component of the progress of the Bundi project is the continued preparation of the environmental impact statement.

The preparation for the 2013 program of works for the EIS is well underway, according to MetroCoal.

There has also been renewed interest in joint venture opportunities with Indian and Chinese entities for the Bundi project, it said.

“One of the key drivers for the continued progress of the Bundi project is the pleasing level of interest in the JV investment opportunity for the Bundi project,” the company said.

“After visits to India in late 2012 and China in March 2013, a number of energy companies have continued their evaluation of this investment opportunity.”

The Columboola JV project is preparing to begin the EIS process, advance the resource evaluation and also submit a mining lease application this year.