DJ Mining will tender the coal deposit, which according to the project’s divestment managers, Global Resource Asset Exchange, has the potential to produce the lowest ash (4.4%) coking coal product from Australia.
The project is based on EPC889 and is traversed by the Rolleston rail spur to Gladstone Port, 350km away. Native title is expected to be extinguished over the vast majority of the project area.
Exploration in 2006 by DJ Mining confirmed a JORC-compliant inferred coal resource of 370Mt. Additional borehole information indicated the potential for more than 1 billion tonnes of additional coal to occur within 400m of the surface in the two target seams.
Within the deposit, the best quality coal occurs in the Pollux Lower seam within 250m of the surface.
Global Resource Asset Exchange opened up the tender process on March 2 and will close submissions for non-binding expressions of interest on March 30.
A short list will be made by April 5 and the preferred purchaser will be notified on May 11.