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Yancoal Receives Approval for Moolarben Expansion
Feb. 03, 2015 09:21AM PST
Industrial Metals InvestingMining Weekly reported that the Stage 2 expansion of Yancoal Australia Ltd.’s (ASX:YAL) Moolarben mine has been approved by the New South Wales Planning Assessment Commission.
Mining Weekly reported that the Stage 2 expansion of Yancoal Australia Ltd.’s (ASX:YAL) Moolarben mine has been approved by the New South Wales Planning Assessment Commission.
As quoted in the market news:
The current Moolarben mine has been approved to extract up to 12-million tonnes a year run-of-mine (RoM) coal from three opencut and one underground mine.
The permitted extraction currently comprised eight-million tonnes from the opencut operations, while a further four-million tonnes a year could be sourced from the yet-to-be commissioned underground mine.
Yancoal Australia CEO Reinhold Schmidt stated:
The Stage 2 project will provide new opportunities for investment and employment within the region and demonstrates Yancoal Australia’s long-term commitments to the Australian resources sector during a period of significant economic challenge.