Whitehaven lifts reserves and resources

WHITEHAVEN Coal has ramped-up its total marketable coal reserves 61% to 221.4 million tonnes while measured and indicated resources have increased 22.7Mt to 476.3Mt.
Whitehaven lifts reserves and resources Whitehaven lifts reserves and resources Whitehaven lifts reserves and resources Whitehaven lifts reserves and resources Whitehaven lifts reserves and resources

The Narrabri underground project.

Blair Price

Total coal resources for Whitehaven’s Gunnedah and Werris Creek operations and the Narrabri and Ashford projects in New South Wales have reached 717.6Mt, including 192.32Mt measured, 283.99Mt indicated and 241.21Mt inferred resources.

Total coal reserves are 255.1Mt, including 88.11Mt proved and 166.9Mt probable reserves, while proved marketable reserves are 81.71Mt and probable marketable reserves are 139.7Mt.

The company’s key Narrabri project now has an initial marketable reserve of 69.2Mt for the Narrabri South area.

Taking in Narrabri North, the total Narrabri measured resource is 119.30Mt, with 184Mt indicated and 135Mt inferred, while total proved reserves are 70.5Mt and probable reserves are 131.4Mt.

At Whitehaven’s Tarrawonga open cut mine, probable marketable reserves have now been set at 22Mt, which the company said reflected recent drilling results and a revised coal resource.

Other new developments include the initial coal resource of 2.9Mt, at the Brunt deposit in the Ashford project, and the establishment of an initial coal resource at the Block 7 area formerly known as the Gunnedah colliery.

Meanwhile, the proposed merger between Gloucester Coal and Whitehaven is still under review by the Takeovers Panel, following an application made by commodities trader Noble Group, a 21.7% shareholder of Gloucester.

Whitehaven shares closed down 2.5c yesterday at $1.35.

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