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Springsure approvals put brakes on Comet Ridge

ACACIA Coal's small Comet Ridge project in Queensland, which was aiming for first production in t...

Blair Price
Springsure approvals put brakes on Comet Ridge

“Acacia has an agreement with Bandanna for the Comet Ridge project to access the Triumph Creek train loading facility, part of the Springsure Creek infrastructure proposed to be sited on Acacia’s tenement,” the Rockhampton Morning Bulletin reported.

“At the Noosa Mining and Exploration Conference, Acacia managing director Gavin May said the company was reluctant to progress a bankable feasibility study until Bandanna’s future mine plans firmed up,” the newspaper reported.

Under its 2013 prefeasbility study, Acacia envisioned a low-risk, shallow, open cut operation for Comet Ridge that could cost less than $50 million to develop and produce around 350,000 tonnes per annum of coking and thermal coal.

Bandanna has previously flagged starting construction of Springsure Creek in the September quarter of 2014, with first development coal expected in 2015.

The southern Bowen Basin thermal coal project is initially targeting 5.5 million tonnes per annum of capacity.

First longwall coal is expected in the second half of 2016.

If the expansion to double output goes ahead, first coal from the second longwall is expected in 2020.

Bandanna revealed there were six objections to Springsure Creek’s three mining lease applications and associated draft environmental authority applications in April.

There were four left as of last week when a second objection was withdrawn.

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