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Current proved and probable reserves stand at 799.7 million tonnes which is 1.7% lower than the 813.9Mt presented in the scheme booklet at the time of its merger with Gloucester coal last year.
“Additional drilling at some of the mines combined with updated geological models for each project has led to the changes,” the company said.
The most significant moves were at Moolarben which increased resources by 38Mt to 1222Mt or 3.3%, while Donaldson resources fell by 58Mt to 827Mt.
Yancoal says a feasibility study for an underground mine at Moolarben complex in New South Wales is advancing on schedule, with completion slated for late in the first half of 2013.
But the NSW Department of Planning and Infrastructure is yet to finalise its assessment of the project’s stage 2 development, which is made up of the open cut 4, underground 1 and underground 2 mines.
Operations at the existing open cut mine performed strongly during the December quarter with run of mine production of 1.5Mt and saleable production of 1.2Mt for the period.
Coal mining ceased in the middle of December as ROM output reached approval levels for the year (7.17Mt ROM coal) and overburden mining ceased for a two-week break over the Christmas period.
The Donaldson mines complex, made up of the Abel, Tasman and Donaldson open cuts, finished last year by generating a production record as the benefits of the “LEAN” program at the Abel mine continued to deliver positive results.
ROM coal output from the three operations reached 1Mt in the quarter, with the coal handling and preparation plant also achieving a quarterly record of 600,000 tonnes of saleable product.
The application to extend the Tasman mine is being progressed.
The NSW Planning Department is expected to finalise its assessment report in the first quarter of 2013 and is expected to determine the application under delegation shortly afterwards.
A mining lease application has been lodged.
The grant of the mining lease will be subject to the finalisation of native title negotiations which are underway.
