Stanmore Coal secures exploration funding for Blackwater coal project

In Exploration, Latest News

BelviewStanmore Coal has secured a second round of exploration funding for their Belview coking coal project east of Blackwater.

The $1.5 million in additional exploration investment support comes from Japan’s Taiheiyo Kouhatsu and government-owned corporation, JOGMEC.

Queensland Resources Council (QRC) Chief Executive Michael Roche has congratulated Stanmore Coal on securing the further investment.

“This is another example of an agile, up-and-coming coal company turning the current downturn to their advantage by locking in lower cost development work ahead of the inevitable demand rebound,” Mr Roche said.

“Last month, QRC welcomed a $3.5 million global partnership between Cockatoo Coal and JOGMEC for exploration at its Dingo West project in the southeast Bowen Basin”.

“Both announcements confirm the faith that our leading customers have in the future of the Queensland coal industry,” he said.

Coking (or metallurgical) coal is an essential component in blast furnace steel-making, responsible for 70 percent of the world’s steel production.

“Queensland’s coking coal is ranked as the best in the world and in 2013-14, exports were valued at around $US20 billion,” Mr Roche said.

“We wish Stanmore and partners every success in their latest exploration program, noting this is the fourth such funding arrangement for Stanmore Coal projects from Japanese partners.”

You may also read!

Clive Palmer Mineralogy Queensland Nickel

Palmer slammed for multiple no shows at Queensland Nickel court case

A judge criticised a mining magnate for failing to turn up to court about the collapse of a North

Go Galilee Basin day of action

Industry expects up to three more mega mines in decade to come

Another three major mining projects could start construction in the next 10 years according to an industry body. The

CS Energy Kogan Power Station

Dozens of job vacancies for anyone willing to learn

Multiple proponents are hiring dozens of people who are interested in a career in the energy and resources sector.


Leave a reply:

Your email address will not be published.

Mobile Sliding Menu