The mining study is based on a planned 20 million tonne per annum at the Benga mine, and the company is forecasting that the prime hard coking coal from Benga will be among the lowest-cost coking coal in the world.
“Mozambique will be a future resource of global significance for the world's coal markets, and we are extremely proud to be in a position to contribute towards this,” Riversdale Mining executive chairman Michael O'Keeffe said.
O'Keeffe said Riversdale's application highlights that the company is committed to improving the economy of Mozambique and is open to regular reviews of progress in its corporate social responsibility program.
“Our mining study clearly states that there can be no successful mining operation in Mozambique without due consideration for the wider economic, environmental and social impact of mining activities,” O'Keeffe said.
Riversdale expects the coal project’s economic impact to the local economy will be substantial with direct capital investment projected to be above $US800 million in the start-up costs for the mine.
At full operation, the company forecasts that the coal mine will create 1500 direct permanent jobs and a further 4500 indirect jobs.
Meantime, the company has formed an international advisory board to oversee the next stage of the coal project’s development.
The board will develop and implement key corporate social responsibility programs to support the project’s development and proposed coal mining operations in Mozambique.
Shares in Riversdale were trading mid-morning today at $A10.74.
