Coal Face Resources has also negotiated a Native Title and Cultural Heritage agreement that will cover the Consuelo and nearby Don Juan projects.
These steps follow pre‐evaluation work of the potential for the Consuelo thermal coal project, which has a current exploration target of 800 million tonnes to 1700Mt.
International (ICX) believes these actions represent an important step in clearing the way for the granting of three of the tenures in the Consuelo project, chief executive Glenn Simpsons said.
“The Consuelo project has the potential to be a flagship project for ICX and its joint venture partner. The ICX board is pleased to announce this progress toward achieving granting of the tenure,” he said.
“We will continue to work closely with CFR and the Queensland government to enable the Consuelo project tenements to be granted as quickly as possible.”
The project is targeting the Late Permian Bandanna Formation in the Bowen Basin, which hosts the same seams as those mined in the Rolleston mine less than 15km up‐dip and to the northwest, and the Arcadia Project to the east.
The Rolleston mine is a joint venture between Xstrata Coal, (75%), Sumisho Coal Australia and IRCA Rolleston (both 12.5%). The mine is reported to produce betweem 5Mtpa and 10Mtpa with current economic reserves to be mined of 173Mt with further exploration planned.
The Consuelo project is less than 20km from Aurizon’s Blackwater rail system.