A resources collaboration will quickly invest considerable funds in reopening a coal mine.
Australian Pacific Coal (APC) recently formed strategic partnerships with M Resources and Tetra to accelerate the $300 million Dartbrook Coal Mine revival, 122km northwest of Newcastle.
The group is already negotiating a capital debt funding package with multiple international credit providers, with an aim of restarting operations within 12 months. The operation will initially target producing 1.5M tonnes a year and eventually ramp up to 6Mt per annum.
“Key personnel from the proposed mine operator, Tetra Resources, are currently on site and are finalising mobilisation plans, the restart program timeline and capital requirements to enable the successful recommencement of underground mining operations,” APC said in a public statement.
“Following presentations from Tetra this week, the company anticipates that underground mining operations could restart as projected in the second half of 2023, subject to securing the restart capital debt package and customary operating approvals.”
The remarks came after the proponent urged authorities to postpone legislative amendments that could ban new open-cut mining activity. Namely, the company wants a moratorium on proposed changes. The mine already has MOD7 approval from the State Government.
“The NSW Government proposes to make legislative changes specific to open-cut mining at the Dartbrook Project. Notwithstanding this position, the company has and continues to remain consistent in its position to development of an underground mining project at Dartbrook as its priority – which remains supported by NSW Government … and through [existing] approval of the MOD7,” APC said.
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