Oct 19, 2020

Eagle Downs decision due by end of 2020

Eagle Downs decision due by end of 2020

Central Queensland should know the future of the Eagle Downs metallurgical coal project near Moranbah within three months.

In its quarterly report today South32 said it remained on-track to consider a final investment decision with its joint venture partner by the end of this calendar year.

Eagle Downs is a large metallurgical coal development project located about 25km south-east of  Moranbah and down dip of BMA’s Peak Downs mine.

The project was placed under care and maintenance in late 2015 after initial development work that delivered site infrastructure including water supply and high voltage systems, office buildings and water and sediment dams.

Dual 2km drifts were also about 40 per cent complete.

South32, which also owns the Cannington mine in North West Queensland, bought into Eagle Downs in 2018. 

It signed a deal with BaoWu Steel Group subsidiary Aquila Resources to acquire a 50 per cent interest in the project.

Prior work undertaken by Aquila indicated that Eagle Downs had the potential to export 4.5Mtpa of coal (on average) from one longwall over the first 10 years of full production.

A listing remains open on ICN Gateway for potential subcontractors and suppliers to register their interest in the project. More HERE