Bathurst reaches 'key milestone' in Buller project
The company has signed a heads of agreement with Westport Harbour to gain exclusive use of a coal handling facility.
Bathurst Resources, the Australian company developing a large open cut coal mine in Buller, says the project has reached a "key milestone."
The dual-listed company today said it had signed a heads of agreement with Westport Harbour to gain exclusive use of a coal handling facility.
Bathurst chief executive Hamish Bohannan said Westport Harbour would build the plant, including a coal unloading system, stockpile area, ship loader and wharf.
Coal would be transported by rail to the port, where it would be stockpiled before being shipped out.
Bathurst would pay Westport Harbour for the coal-handling plant, which he said should be "first class."
Coal volumes are expected to reach two million tonnes within three years.
Bathurst bought the Buller coal project from L&M Coal. It has an exploration target of 60-90 million tonnes of coal.
The Buller coalfield is one of the country's most significant fields, accounting for about half of New Zealand's coking coal.
It is situated in an historical coal region close to ports and infrastructure and will provide high-quality coking coal.
NZPA
Mon, 21 Feb 2011
Mon, 21 Feb 2011
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Bathurst reaches 'key milestone' in Buller project
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