ME home
 
  SME FaceBook SME Twitter SME LinkedIn RSS Feed

Subscriber or
SME Member Log On

WEB-ONLY CONTENT

Go to SME eNEWS

MINING INDUSTRY EVENTS

Solution Mining SMRI Fall Technical Conference  - Conference
Sep 24, 2017 - Sep 27, 2017
SME Florida Section 32nd Annual Conference  - Conference
Oct 11, 2017 - Oct 12, 2017
10th Edition of Great Step  - Conference
Oct 13, 2017 - Oct 15, 2017
AusIMM Underground Operators Conference  - Conference
Oct 16, 2017 - Oct 18, 2017

METAL PRICES


Au
Ag
Pt
Pd
Ni
Cu
Al
Pb

AGGREGATES
AND MINERALS
MARKETPLACE


http://aggregatesmineralsmarketplace.com
The Mining Engineering, SME and NSSGA
Online Buyers Directory Site
The Online Global Mining and Minerals Library Site

Rio Tinto increases coal reserve estimate for Kestrel Mine
September 7, 2017

Rio Tinto said it has increased its estimate of coal reserves by 50 percent at the Kestrel Mine in the Australian state of Queensland.

The company increased the estimates at the mine at 185 Mt (204 million st) from 123 Mt (135 million st). Rio Tinto is reportedly looking to sell the mine.

Reuters reported in May that the miner planned to sell its Kestrel and Hail Creek mines in coal-rich Queensland as part of a full exit from Australian coal to focus on iron ore, copper and aluminum.

The new estimates followed “rigorous examination of leases that included an updated geological model, updated mine layout, revised coal product classifications and revised loss and dilution and productivity assumptions,” Rio said in a statement.

Rio Tinto has an 80 percent stake in Kestrel. It is yet to formally announce a sale, but has already attracted scores of interested buyers, according to sources familiar with the situation.

Analysts expect each of the mines to sell for more than $2 billion.

 

Related article search: