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Next step for Duralie Extension project

GLOUCESTER Coal aims to receive federal government approval of its Duralie Extension project, to ...

Blair Price
Next step for Duralie Extension project

The Department of Environment, Water, Heritage and the Arts is seeking public comment on the project, which will also develop new roads and upgrade existing infrastructure.

ROM coal will be railed north to Gloucester’s Stratford mine in the Gloucester Basin, New South Wales, for processing at its coal handling and preparation plant which is undergoing upgrades.

Gloucester plans to continue mining the Weismantel seam to the northwest within Mining Lease 1427 and Mining Lease Application 1.

The establishment of the Clareval North West open pit within the two areas will target the Clareval seam.

Gloucestor is also seeking approval to continue ongoing exploration. The company plans to progressively backfill open pits with waste rock and to further expand placement of waste rock in out-of-pit emplacements.

To better manage excess water, Gloucester seeks approval to increase its Auxiliary Dam No.2 from 81m of relative level to 100m.

Gloucester sees no risk to threatened ecological communities under its proposal.

Under a takeover offer, Macarthur Coal aims to acquire all Gloucester shares for 0.84 Macarthur shares or $8 in cash for each Gloucester share.

Gloucester’s board recommended its shareholders take up the offer, expected to close in early May.

Commodities trader Noble Group bought up an 87.8% stake in Gloucester with its $7 per share cash takeover last year.

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