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The main market for Escarpment coal has been the local cement works which is planned to close in June 2016.
The search for a replacement market is ongoing, however this has not been secured to date, Bathurst said in a statement.
Current markets for this high quality coal are around 35,000 tonnes per annum and feasibility studies have shown that the mine is suboptimal at this market scale.
Site works will continue with the formation of stable slopes and water control structures to allow the mine to meet all of its resources consent conditions in a safe and effective manner.
“The intent of the company is to continue to compete for other markets for this high quality coal and the company is continuing to develop plans for the export market,” Bathurst said.
“The resources remain available to mine and has a scale at which it becomes profitable.”
