OGL feasibility study confirms Port of Brisbane option

OGL Resources has moved a step closer to being an independent producer and exporter of thermal coal with a feasibility study confirming that its plans to load up to 1.5 million tonnes per annum from the Port of Brisbane are viable.

Lou Caruana

As announced on May 15, 2012, OGL was conducting a feasibility study to evaluate the economic feasibility of the handling, stockpiling and ship loading of an initial 600,000t, increasing to 1.5Mtpa, through the port.

“This feasibility study has been completed and confirms the proposed development of this coal handling facility is economically and practically feasible,” the company said.

“The study confirms the port facility can also support handling, storage and shipping up to 1.5Mtpa of coal through the existing facility for low capital cost and minor civic and mechanical improvements on the site.”

OGL will now work to develop and execute a commercial access-operation agreement for exclusive use of the facility. This arrangement will enable OGL to continue with its plan to re-open the Ebenezer mine in Queensland and produce high-quality thermal coal for the export market, OGL managing director Allan Fidock said.

“The combination of low cost of production and high-quality coal product from the Ebenezer mine with access to transport and port has OGL Resources in an exceptional position to become Australia’s next export coal producer,” he said.