Vancouver-based Colonial Coal International (TSX-V: CAD) has received the preliminary economic assessment for its 100% owned Gordon Creek metallurgical coal project located about 30 km south of Tumbler Ridge. Prepared by Stantec Consulting Services, the PEA demonstrates positive economics.
The Gordon Creek project has an after tax and royalty net present value of $690.5 million with a 7.5% discount rate. The internal rate of return will be 24.4% based on a price of $164.8 per tonne coking coal and a premium pulverized coal injection (PCI) price of $140.5 per tonne.
The project has a pre-production capex of $300 million with additional sustaining capital of $406.0 million over the life of the mine. When the project reaches commercial production, it will produce an average of 1.9 million tonnes of clean coal annually. The payback period is less than three years.
Colonial says the PEA is based on an underground mine plan that would recover 111.6 million run-of-mine tonnes with a yield of 51% to produce 57.4 million tonnes of clean coal over a 30-year life for the mine. The property contains an inferred resource of 298.0 million tonnes.
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A senior Iranian lawmaker criticized the European parties to the 2015 nuclear deal and said they are not determined to create the Special Purpose Vehicle (SPV), the mechanism aimed at facilitating trade with Iran in the US sanctions era.
Indonesia has lowered coal benchmark price by 5.51% in Dec'18 to USD 92.51/MT FOB vessel, from USD 97.90/MT in Nov'18, the Energy and Mineral Resources Ministry said in a statement on Wednesday, Dec. 5.
European LNG sendout stepped up further in November to the highest for any month in seven years, with record Dutch and Portuguese sendout.
The European Union's largest coking coal producer JSW could increase output by between 2.5 and 3 million tonnes per year by acquiring assets, far exceeding its current plan to grow production to 18 million tonnes by 2030 from roughly 15 million now.
According to IMIDRO, Azerbayjani steel has bagged CE certification from Europe in order to export manufactured products to other countries, as well as to promote the brand and create an additional competitive advantage in the steel sector of the country.