Aquila Resources Says Eagle Downs Coal Mine To Cost A$1.25 Billion
May 30 2011 - 7:43PM
Dow Jones News
Aquila Resources Ltd. (AQA.AU) said Tuesday a study estimates it
will cost about A$1.25 billion to develop its Eagle Downs coking
coal project in Australia into a mine producing an average 4.5
million metric tons of the key ingredient in steel production over
some 48 years.
The company said the project, which it equally owns with Vale SA
(VALE), has a resource of 959 million tons and a reserve of 254
million tons. It is located in the coal-rich Bowen Basin in central
Queensland, near the Peak Downs mine owned by a joint venture
between BHP Billiton Ltd. (BHP) and Mitsubishi Corp. (8058.TO).
-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094;
robb.stewart@dowjones.com
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