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Home | Resource News | Beacon Hill DFS: True magnitude of Minas Moatize coking coal play

Beacon Hill DFS: True magnitude of Minas Moatize coking coal play

21 February, 2012 09:18:00

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IRJ – February 22 – AIM and soon-to-be ASX-listed coking and thermal coal producer-seaborne exporter Beacon Hill Resources Plc. (LON: BHR) (“Beacon Hill”) Wednesday released its definitive feasibility study (DFS) for the JORC compliant 42.65 million tonnes reserve Minas Moatize coking and thermal coal project in Mozambique’s Tete province.

The DFS—incorporating a 4Mtpa Run of Mine (“ROM”) operation producing on average 2.2Mtpa of saleable coking and thermal coal during an 11.5-year mine life using a 13 per cent discount rate—reveals that Minas Moatize has a pre-tax NPV of US$662 million and internal rate of return (”IRR”) of 79.5 per cent.

“We are very pleased to publish the results of the DFS for the Minas Moatize Expansion Project, which provides independent confirmation that the project will support a technically and economically robust coal mine with a mine life of 11.5 years,” Beacon Hill Chairman Justin Lewis says in statement.

“The economics of the project are not only highly positive, but are also subject to improvement across a range of areas and with a NPV of US$662 million, a Marketable Reserve of 23.45Mt of coal, of which over one third is coking coal, near term coking coal production and a proven end to end export solution, the commercial value of the Minas Moatize Project is clearly apparent.”

The announcement follows the project’s maiden JORC reserve in early February 2012, and remains ripe for adding to the resource inventory, possibly totalling as much as 50 million tonnes when an outstanding 7.9 million tonnes outlined in initial resource drilling undergo infill drilling this year.

Beacon Hill also took on its second project in Tete, the Changara coal project exploration-development joint venture, in December 2011.

An exclusive interview feature with the company is due to appear in the March issue of The International Resource Journal (IRJ).

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