The product would be a very marketable low-ash semi-hard coking coal, with a high-ash thermal coal by-product.
“A unique set of circumstances exist at Comet Ridge, comprising shallow Permian Coal Measures, coking coal and direct access to the rail network,” the company said.
“The company has a binding agreement with Bandanna Energy to ship product via the proposed Triumph Creek Train Loading Facility.”
Acacia estimates that earliest first coal production would be at the end of 2015.
The mining operation would be a low-risk, shallow open cut with very low strip ratios, the company said.
The deposit contains cost-effective destoned ROM coal and has highwall mining potential in the Triumph seam.
Acacia plans completing its bankable feasibility status over the next 12 months and has sufficient cash to keep funding the project to the third quarter of 2014, it said.
