Gloucester increases reserves

Gloucester Coal has upped its coking coal resources.


Gloucester Coal has upped its coking coal resource.
The miner has increased its reserves estimates by more than a quarter, from 57.2 million tonnes to 74.8 million tonnes of metallurgical coal, a jump of 31 percent.
This has pushed up its total resource by 16%, from 240 million tonnes to 279 million tonnes.
On this back of this boosted reserve, Gloucester has announced it will also increase production to approximately 3.5 million tonnes per annum by 2014.

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