The project’s marketable reserves stand at 23.45Mt while the project’s total mineable reserves total 42.65Mt.

Beacon Hill said the Minas Moatize mine had a mine life of up to 14 years.

The London Stock Exchange-listed company has completed a mine plan which forms part of the definitive feasibility study for the project.

Beacon Hill plans to release the DFS in the latter part of the current quarter, which supports the plan for a four million tonne per annum run of mine operation at the Minas Moatize.

Beacon Hill chairman Justin Lewis said the latest reserve statement confirmed the commercial value of the Minas Moatize project.

"We have a marketable reserve of 23.45Mt of coal, of which over one third is coking coal, a proven end to end export solution as highlighted by the commencement of shipping in December 2011, near term coking coal production and the full results of the DFS due to be released later this quarter,” he said.

The company is anticipating initial production of coking coal from the mine in the first quarter of 2012.

Beacon Hill also intends to make an ASX listing

application within the first quarter of 2012.