Stanmore Coal Limited : Surat Basin Rail Gains Key Government Approval
12/05/2011 | 03:48am
ASX announcement
ASX announcement
5 December 2011
Surat Basin Rail Gains Key Government Approval
The Queensland Government has approved the development scheme
for the Surat Basin Infrastructure Corridor State Development
Area which contains the route for the Surat Basin Rail ( SBR)
link to the Port of Gladstone via the existing QR Network
Moura rail line.
The Queensland Government has previously identified this rail
line as critical to allow opening up of new mines in the
Surat Basin to allow the export of coal from the Port of
Gladstone.
The Surat Basin Rail Joint Venture is working under an
exclusive mandate granted by the Queensland
Government to develop the project as an open access coal and
freight railway.
Granting of this key Government approval will now allow the
SBR joint venture to move to land acquisition and
construction which we understand is scheduled to commence in
late 2012 with first coal on rail due in 2015.
Stanmore Coal Limited (ASX:SMR; Stanmore Coal) has applied
for five million tonnes of capacity on the SBR to deliver
high quality export thermal coal from The Range project from
2015 onwards. The Range project is well located in the north
of the Surat Basin some 27 km south east of the planned SBR
line. Stanmore Coal has also obtained 7Mtpa of priority
capacity rights at the proposed Wiggins Island Coal Export
Coal Terminal Stage 2 (WICET 2) at Gladstone which will
enhance the Company's competitive position in the event there
is excess demand for WICET 2 port allocation. The Company
understands that capacity at SBR and WICET 2 is due to be
allocated shortly, in advance of planned financial close of
both projects in mid-2012.
Stanmore Coal Managing Director, Nick Jorss, said "We are
very pleased to see this key approval milestone achieved
which clears the way for the construction of the Surat Basin
Rail. This is an important event for The Range, our 5Mtpa
export thermal coal project which remains on track to
commence construction in 2013 and deliver coal two years
later."
On behalf of the Board
DP Cornish
Company Secretary
1 ASX code: SMR
ASX announcement
For further information, please contact:
Mr Nick Jorss
Managing Director
07 3238 1000
About Stanmore Coal Limited (ASX code: SMR)
Stanmore Coal is a growth focused, pure play coal exploration
and development company with a number of prospective coal
projects and exploration areas within Queensland's Bowen and
Surat Basins. Stanmore Coal is focused on the creation of
shareholder value via the identification and development of
coal deposits, with a focus on the prime coal bearing regions
of the east coast of Australia.
Stanmore Coal holds 100% interests in its seven coal project
areas, covering over 1,080 km2 in total. These
projects include significant deposits of open pit coking and
thermal coal and are typically well located for export
infrastructure.
Stanmore Coal Limited ACN 131 920 968
p: +61 (7) 3238
1000 | f: +61 (7) 3212 6250 | e: info@stanmorecoal.com.au |
w: www.stanmorecoal.com.au
Street address: Level 11, 10 Market Street, Brisbane QLD 4000
| Postal address: GPO Box 2602, Brisbane QLD 4001
2 ASX code: SMR
