Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Authority to Enter And Operate for Escarpment

Bathurst Receives Authority to Enter And Operate for Escarpment

Bathurst Resources Limited (“Bathurst” - NZX/ASX: BRL) is pleased to announce that it has received the Authority to Enter and Operate (AEO) for the Escarpment Mine Project from the landowner - the Department of Conservation (DOC). The company is now able to proceed with earthworks and site preparation at Escarpment in readiness to quickly move into full mining operations once global coking coal prices recover.

Initial works will comprise site clearing, establishing initial water management dams and drainage systems, installation of coal stockpile areas, site roads and basic infrastructure including a site office and amenities. Coal production areas will be cleared and other earthworks will be undertaken to prepare the site to transition to steady state operations when economic conditions warrant full commercial production. Activities are scheduled to commence from 1 July 2014.

Coal recovered in the initial construction phase will be sold into the domestic industrial market. It is envisaged that approximately 35,000 tonnes will be recovered in the first 6 months of site works. Some coal will also be dispatched for trials to coke and steel producers in Japan, India and other Asian markets.

Bathurst has now lodged a bond with the Buller District Council, West Coast Regional Council and DOC. The company will also be making its first payment as part of the $22 million compensation package to DOC as agreed under the Access Arrangement.

Bathurst Resources Managing Director, Hamish Bohannan, said “We are delighted to be able to commence activities at Escarpment. This initial construction phase is the important first step in developing a full scale export coking coal operation at Buller. It’s also a positive development for the West Coast community”.

On behalf of Bathurst Resources Limited.

Hamish Bohannan

Managing Director


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Taxing Multinationals: EU Ruling Sours Apple

Shares of Apple slid, down 0.9 percent as of 3.08pm in New York, after the European Commission ruled that Ireland granted the company undue tax benefits of up to 13 billion euros (US$14.5 billion)—"illegal aid” under EU rules that the commission says Ireland now must recover from Apple. More>>

ALSO:

NZX Review: Best Practice Code Recommends Code Of Ethics

NZX, the sharemarket operator, is seeking feedback on proposed changes to its corporate governance best practice code including a published code of ethics, rules about share trading and continuous disclosure, and more transparency over board appointments and chief executive pay. More>>

ALSO:

Auditors:

Signs Of Life? SETI On Russian Space(?) Signal

A star system 94 light-years away is in the spotlight as a possible candidate for intelligent inhabitants, thanks to the discovery of a radio signal by a group of Russian astronomers... Could it be a transmission from a technically proficient society? At this point, we can only consider what is known so far. More>>

Post-Post: Brian Roche To Step Down As NZ Post CEO

Brian Roche will step down as chief executive of New Zealand Post in April 2017, having led the state-owned postal service's drive to adjust to shrinking mail volumes with a combination of cost cuts, asset sales, modernisation and expansion of new businesses. More>>

ALSO:

Company Results: Air NZ Rides The Tourism Boom With Record Full-Year Earnings

Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More>>

ALSO:

New PGP: Sheep Milk Industry Gets $12.6M Crown Funding

The Sheep - Horizon Three programme aims to develop "a market driven, end-to-end value chain generating annual revenues of between $200 million and $700 million by 2030," according to a joint statement. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news