MARKETS

Resolve expands Galilee foothold

RESOLVE Coal has expanded its $1.2 billion Hyde Park coal project in Queensland’s Galilee Basin by 19 square kilometres through acquiring a coal tenement off Spinifex Rural Management.

Blair Price
Resolve expands Galilee foothold

The finger-shaped block, EPC 2166, extends the project boundary strategically to the south.

Resolve managing director Gordon Saul said it gave the project a significant portion of one of the two potential rail routes to Adani’s North Galilee Rail Project and placed the project within 16km of Adani’s Carmichael coal project.

“The HPCP is the closest coal project to the Abbot Point Coal terminal and is favourably placed to deliver significant benefits to the national economy,” Saul said.

“This will be one of the lowest cost thermal coal mines in Australia, delivering high quality, low sulphur coal to the export market.”

Saul said the new block, with the transaction price unrevealed, also provided more low strip-ratio coal including “several kilometres of coal strike which will allow us more flexibility in mine design and operations, further supporting the attractiveness of the project”

A prefeasibility study for Resolve’s Galilee Basin thermal coal project was previously scheduled for a March quarter release.

The targeting tonnage could be 10 million tonnes per annum of product coal – given that Resolve signed a 10Mtpa rail and port allocation memorandum of understanding with Adani last month.

Adani acquired terminal one of the Abbot Point coal port from the state government via a long term lease arrangement in 2011.

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production

editions

Mining Magazine Intelligence Automation Report 2023

An in-depth review of operations using autonomous solutions in every region and sector, including analysis of the factors driving investment decisions