The 894 million tonne resource now contains 340Mt measured with the mining plan covering the payback period now classified 90% as a measured resource.
Measured and indicated resources in the Harrow Creek Upper seam have been significantly increased to 518Mt and cover 99% of the life of mine plan for the seam. Harrow Creek Upper is the initial mining seam at the project and covers the mine payback period.
Eagle Downs, located downdip from BMA’s Peak Downs mine, is a 50:50 joint venture between Aquila and Vale.
The project’s feasibility study proposes an underground longwall mine, initially producing 4.6Mt per annum before ramping up to 8Mtpa when a second longwall is introduced.
Aquila shares jumped 6.07% on the news this morning to $8.39.