Austalian General News Flash

Whitehaven Coal has been granted a mining lease on the Rocglen (previously Belmont) concession located 28 km north of Gunnedah NSW. Production at the 1.5Mtpa thermal PCI mine is scheduled to start Q4’08. Development cost A$35M.
• Gujarat NRE Coke Limited announced its first shipment of more than 20kt of coking coal to India from its recently acquired NRE Wongawilli colliery. The coal will be washed in India.
• According to the Australian financial press South Korean steelmaker Posco is trying to buy a stake in Macarthur Coal.

• On 17 June 2008 Macarthur Coal announced the company has been continuing talks on selling its shares with ArcelorMittal.
• Coalworks has closed it’s A$20M IPO oversubscribed. Coalworks owns the Oaklands North thermal coal project.
• Rey Resources confirms two coal seams at the Duchess area on its thermal coal project near Liveringa in the Canning Basin, Western Australia. The upper seam averages 2.6m thick and the lower seam 6.5m thick
• Austar Coal has lodged applications with the NSW Planning Department to extend its Austar underground mine at Ellalong in the Hunter Valley. The A$80M project allows for the extraction of up to 3.6Mtpa ROM coal for 21 years using long wall top coal caving technology and construction of new pit top facilities.
• High oil prices have encouraged Rio Tinto into looking at switching its Gove alumina refinery in the Northern Territory to be fuelled by coal, with coal being back-hauled from Gladstone.


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