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

 

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Scoop Business: Embrace Falling Home Affordability, Says NZIER

Despair over the inability to afford a house is misplaced and should be embraced as an opportunity to invest in more wealth-creating activity, says the principal economist at the New Zealand Institute of Economic Research, Shamubeel Eaqub. More>>

Productivity Commission: NZ Regulation Not Keeping Pace

New Zealand regulators often have to work with out-of-date legislation, quality checks are under strain, and regulatory workers need better training and development. More>>

ALSO:

Callaghan Innovation: Investment To Help Deepen Innovation Reporting

Callaghan Innovation, the government’s high tech HQ for Kiwi business, is to help deepen New Zealand media coverage of the commercialisation of innovation through an arms-length partnership with independent business news service BusinessDesk. More>>

ALSO:

Tax Credits, Grants: Greens $1Bn R&D Plan

In the Party’s headline economic announcement, the Greens have launched their plan to build a smarter, more innovative economy which has as its centrepiece an additional $1 billion of government investment in research and development (R&D) above current spend, including tax breaks for business. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news