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Bathurst Receives Authority to 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”.

ends


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