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The initial commissioning pit has been successful in confirming the BNU coking coal product quality and the value in use proposition it presents to the Chinese steel makers.
The revision is a result of increased ongoing resource definition as part of our operating strategy and a subsequent detailed review of the short-term mine plan focused on positive cash returns during the current low price cycle.
This has resulted in the BNU operation opening up a new lower strip ratio mining area, which was supported by encouraging results of further in-fill exploration as part of the next stage of the BNU mine.
Production at BNU restarted in late 2014 and Guildford has recently secured offtake agreements with two end-users in China.
