Minerva is located 40km south of Emerald in Central Queensland, with capacity for 2.5 million tonnes per annum production of high quality thermal coal. Athena is the adjacent exploration area, which currently has approximately 560Mt of inferred underground resources.
“This decision by Sojitz further demonstrates the current competitive environment for quality coal assets. We have always worked well with Sojitz and this confirms their confidence in the project and in Felix as an operations manager,” Felix managing director Brian Flannery said.
Completion of the transaction with Sojitz is contingent upon the approval of the Foreign Investment Review Board (FIRB) and Ministerial approval for transfer of the tenement titles.
