PERTH (miningweekly.com) – Construction of the Poplar Grove mine, in Western Kentucky’s Illinois basin, is expected to start in July this year, with first production scheduled for July 2018.
Coal developer Paringa Resources on Wednesday announced the award of a bulk earthworks and site development contract for the proposed mine, covering the excavation and development activities, preparation for plant facilities, and a barge load-out facility on the Green river.
“The tendering process for all major capital items is now closed and the Paringa team has conducted an exhaustive and competitive final bidding process,” said Paringa CEO Todd Hanningan.
“Paringa’s approach generally has been to mitigate risk as much as possible and as such, the company is focused on executing appropriate contracts for the major capital items to build the Poplar Grove mine, to ultimately mitigate the price and timing risk to the greatest extent possible.”
Paringa recently raised A$53-million to complete the financing for the Poplar Grove mine, following a share placement, which was in addition to a five-year $20-million debt facility secured from Macquarie Bank.
The ASX-listed company is hoping to develop a 2.8-million-tonne-a-year operation at Poplar Grove, with a mine life of 25 years.
Edited by: Creamer Media Reporter
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