Paringa Resources has secured surface mine control and reclamation act (SMCRA) mine permit for the construction of surface mine facilities at the Buck Creek Project.
With this development, the company has now received all the mine permits required to construct and operate the low capex Buck Creek Project.
The permitting process was started in 2011 and was granted in the name of the then owners of the project. It has been now transferred to Paringa.
Paringa said that it believes these major permitting items significantly de-risk the project and will submit the remaining minor routine permits, including air permit, MSHA permit and state mine license.
Paringa CEO David Gay said, "Typically, a coal project in the US at this stage would move directly into construction, however we will complete our remaining technical studies to evaluate other production scenarios which could potentially add value to the Buck Creek Project.
"Following completion of these studies we will aim to start construction in 2015."
Located in the Western Kentucky region of the Illinois Coal Basin, the Buck Creek Project has a JORC Coal Resource estimate of 154 million tons.