Study Increases Vista Production Capacity to 12.0 MTPA
Sydney, April 26, 2012 AEST (ABN Newswire) - Coalspur Mines Limited (
ASX:CPL) (TSE:CPT) is pleased to announce that the annual marketable coal production capacity from the Vista Coal Project ("Vista") has increased by 7% to 12.0 million tonnes per annum ("Mtpa"). The increased production rate is the result of an optimization study on the coal processing plant ("CPP") and mine scheduling and follows a feasibility study on Vista which was published on January 30, 2012.
The optimization study was completed by CPG Resources - QCC Pty Ltd ("CPG") as part of the ongoing engineering work on Vista. CPG was responsible for the processing plant and thermal dryer design components of the recently completed Vista feasibility study. The optimization study included an analysis of the relationship between the clean coal production potential from Vista compared to the annual plant operating hours. The study concluded that the CPP is capable of operating at 7,320 hours per year (83.6% net effective utilization) as compared to 6,835 hours per year (78.0% net effective utilization) which was estimated in the feasibility study. The increase in operating hours is possible through enhanced scheduling between mining operations and the CPP and an optimized maintenance program.
Commenting on the increase in production capacity, Managing Director and CEO, Gene Wusaty said "The results of the optimization study reflects Vista's status as a world-class, Tier one mining project that will be a strategic supplier of thermal coal to the Asian markets. The increased production rate further enhances the economics of Vista as it will require a minimal amount of capital investment and will decrease ongoing operating costs. As we progress to construction we will evaluate additional optimization opportunities to maximize the value of Vista."
Enhanced Economics
The increase in annual production will enhance the economics on Vista. A summary of the optimized production schedule can be found in the full announcement link at the bottom of release.
To view the complete Coalspur Mines announcement including all data and figures, please refer to the following link below:
here: http://media.abnnewswire.net/media/en/docs/ASX-CPL-586833.pdf
About Coalspur Mines Limited
Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is a coal development company with approximately 55,000 hectares of coal leases located within the Hinton region of Alberta, Canada. Coalspur's flagship project is Vista, which covers approximately 10,000 hectares and provides a large scale, surface mineable, thermal coal development. Vista is located adjacent to CN Rail's main line, which is suitable for the transport of coal to deepwater ports on Canada's west coast. Coalspur has secured a port allocation agreement with Ridley Terminals Inc., which is essential to the logistics supply chain necessary to export coal from Vista to the growing demand from the Asia Pacific countries.
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