Vitrinite has begun bulk sample mining at its Vulcan mine complex in Queensland, before an imminent mining licence allows a ramp up to two million tonnes per annum.
The privately owned coking coal miner has a portfolio of assets across Queensland’s Bowen Basin and Vulcan is set to be the be the next in a world-renowned region for high-quality coking coal.
After acquiring the asset in 2018, the company has accelerated into development, according to a statement from Vitrinite.
“In a very short time frame we have explored, developed, constructed and gained approval for an operating coal mine,” the statement read.
“We are all extremely proud of the speed and efficiency in which we have navigated the process.”
The official mining licence is expected in the September quarter of 2021, which will allow Vitrinite to mine the resource for up to five years.
Once this initial timeframe is fulfilled, the company doesn’t intend on stopping there.
“Considering the size of the tenement and the number of prospective mining targets, we expect the Vulcan mine will be around for a very long time,” Vitrinite stated.
“There is a further eight years of open cut mining and at least 15 years of highwall mining in the existing, longer-term mine plans.”
The quality of the coking coal is said to be similar to that of Anglo American’s Moranbah North coal mine which lies about 15 kilometres north of Vulcan.
While the future is bright for the mine, Vitrinite remains concentrated on the mid-term, as the promising asset continues approval and development.
“Once the mining licence is granted and we are in a steady state of production at Vulcan, we will be focused on the ongoing development of the mine as well as advancing several pipeline assets into production over the next two years,” the company stated.