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Rey will convert parts of two exploration permits under the MLA, which covers the 511 million tonnes of Duchess Paradise resources along with potential extensions to the deposit.
“The MLA process will be progressed in parallel with consultations and negotiations with relevant stakeholders and preparations for potential mine development and operations, subject to all required project approvals,” Rey said.
Last year the prefeasibility study confirmed the best approach was an initial 2Mt per annum trench highwall mining operation.
After being washed onsite, the coal will be trucked 180 kilometres to Rey’s wharf at Derby, then barged to ships for export.
After 20Mt of highwall mining, Rey has the opportunity to either develop a 2Mtpa run-of-mine bord and pillar operation, or a 4.4Mtpa ROM longwall mine.
Rey shares are up half a cent to 38c this morning.
