MARKETS

Aquila set to join longwall sector

AQUILA Resources could become a longwall player as it boosts the measured and indicated coal resources of its Eagle Downs hard coking coal project in Queensland’s Bowen Basin by 84% to 350.6 million tonnes.

Blair Price
Aquila set to join longwall sector

In its update, Aquila said the maiden measured resource of 227.6Mt clearly demonstrated the world-class nature of the project.

With 123Mt in the indicated class and 528Mt inferred, measured, indicated and inferred resources of Eagle Downs total 878.6Mt.

These come from four seams in depths of 150m, to less than 600m.

The largest is the Harrow Creek Lower seam, which holds 104Mt of measured coal resources alone.

Signalling a possible entry into Australia’s longwall scene, Aquila said pre-feasibility work had demonstrated the viability of a two-longwall mine producing 7Mt per annum of mainly hard coking coal at a free-on-rail cost of $A40.65/t, excluding port and royalties expenses.

The feasibility study is expected to be complete by June 30.

Eagle Downs is immediately adjacent to BHP Billiton Mitsubishi Alliance’s Peak Downs open cut coal mine.

Shares in Aquila, which is also known for its Pilbara iron ore plays, last traded up 22c to $3.44.

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 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

editions

Mining Magazine Intelligence Exploration Report 2023 (feat. Opaxe data)

A comprehensive review of current exploration rates, trending exploration technologies, a ranking of top drill intercepts and a catalogue of 2022 Initial Resource Estimates and recent discovery successes.