The assets, near Lake Macquarie, 100km north of Sydney, comprise an 80% interest in the Moonee longwall mine, Catherine Hill Bay coal preparation plant, Chain Valley colliery and Wallarah mine, currently under care and maintenance. Nissho Iwai Corp owns the other 20%.
Last October the future of the Moonee longwall mine was in doubt after slow mining rates had an adverse affect on production. Excel’s long-term plans for the assets are unclear but at this stage it appears as if longwall mining will end in June 2002 after which it is likely the longwall equipment will be sold.
Excel Mining also owns the Wambo mine which produced 3.543 million tonnes of raw coal for the year ended December 2001. Moonee produced 1.407Mt ROM during the same period.
