The feasibility study is also complete for the 5-million-tonnes-per-annum cut export thermal coal mine over 25 years.

The mine would produce high-energy, low-emission thermal coal sought after in Asia, the company said.

The infrastructure solution has been defined and the company is awaiting delivery of a rail and port solution, it said.

No further expenditure is required until rail and port infrastructure is committed, according to Stanmore.