The companies could start mining operations at a rate of 60,000 tonnes per month (t/m) run-of-mine (ROM) by the end of the year and the output of saleable coal could be between 30,000 t/m and 40,000 t/m.
Firestone revealed that the company is planning to raise A$25m to support the company’s operations, including a Bankable Feasibility Study (BFS) for large-scale mining operations. The mining operation is said to provide a starter pit for a mining operation of 18 million tons per year, planned to start ramp up in 2011.
