Xstrata Coal has announced a significant increase in resources and for the first time has declared a coal reserve.
The company reported its managed coal resources increased by 2.1 billion tonnes, made up of 1.6 billion tonnes of measured and indicated resources and 0.5 billion tonnes of inferred resources.
Xstrata’s recoverable coal resources increased by 1.2 billion tonnes.
According to the company, these figures include an increase at its Wandoan project of 1.4 billion tonnes to more than 2.5 billion tonnes, as well as the coal reserve of 540 million tonnes.
“This significant increase in reserves demonstrates the long term strength of our current operations, supported by substantial resources which will ensure our continued growth,” Xstrata Coal chief executive Peter Freyberg said.
Other increases include a combined increase of approximately 300 million tonnes for the expansion of open cut operations in the Ravensworth West and Cumnock areas and a combined increase of more than 300 million tonnes after Xstrata’a recent acquisitions Mangoola, Tahmoor and Ravensworth Underground.