The Isaac Plains project – a 50:50 joint venture with AMCI Holdings Australia – exposed first coal via a box cut in early July. The mine is expected to produce 2 million tonnes over a mine life of 10 years.
Aquila said the milestone provided it with cash flow to fund other projects within its portfolio in Australia and Southern Africa.
Aquila currently has several other coal developments lined up with exploration progressing at its 50%-owned Belvedere and Peak Down East underground projects in Queensland.
Aquila closed trading on Friday at $A6.50.