Greenvale Mining has appointed experienced Australian mining executive Neil Biddle as managing director, tasked with overseeing plans to fast-track development of Alpha project in Central Queensland.
The company describes Alpha as the only remaining deposit of torbanite – a mineral that contains up to 650 litres of hydrocarbons per tonne – in Australia.
The project lies 50km south of the Central Queensland town of Alpha and about 500km west of Rockhampton.
Studies have demonstrated that it has the potential to produce three high-value products – bitumen, light crude (a precursor to diesel) and activated carbon.
Greenvale sees a unique opportunity to become a domestic supplier of bitumen in Australia, which currently imports around 800,000tpa of the road surfacing and building materials product, and tap a rapidly growing global market for activated carbon, which is used in emissions reduction and water purification.
Mr Biddle will oversee a pre-feasibility study, including resource drilling and bulk sampling test work, targeted for completion by mid-2021.
Mr Biddle is an experienced geologist and corporate member of the AusIMM.
Commenting on Mr Biddle’s appointment, Greenvale chairman, Tony Leibowitz, said: “We believe the Alpha Torbanite Project is a project whose time has come, and I can think of no one better qualified to drive its development than Neil.
“Being resident in Queensland, Neil will be ideally placed to access the project and work with our key consultants to rapidly advance Alpha towards production over the next 12 months.
“Having worked closely with Neil at Pilbara Minerals, Bardoc Gold and other ventures over many years, I know that we possess the combined technical, corporate and commercial skill-sets to move this project forward quickly and unlock value for our shareholders. “