It is in step with the company’s plans to achieve 2 million tonnes per annum next year and 3Mtpa the following year, with the aim of producing a sustainable 5Mtpa by 2020.
Guildford hopes to do this through the expansion of existing operations and the development of satellite pits in its current licences.
The licence is valid for 30 years – until September 8 2045 – with the option of extending it for up to two additional terms of 20 years each.
The Khar Servegen area covers part of the larger 12600X exploration licence – including 6664ha of the Noyon Coal basin – which has a JORC 2012 inferred resource of 15Mt and additional exploration targets of 26Mt and 45Mt.
As it is next to the Baruun Noyon Uul mine, the licence is well placed to use the existing infrastructure to ramp up operations, in particular the 98km haul road to China as the company has secured off take agreements with two Chinese end-users.
