SMR ASX Announcement - First shipment of coking coal
Brisbane, May 12, 2016 AEST (ABN Newswire) - Stanmore Coal Limited (Stanmore or the Company) (
ASX:SMR) is pleased to announce its first shipment of coking coal has been loaded at the Dalrymple Bay Coal Terminal. The first coal sale represents a major milestone for the Company, completing the restart of the Isaac Plains mine which was acquired in November last year.
HIGHLIGHTS
- The first shipment of coking coal through Dalrymple Bay Coal Terminal has been loaded today
- This marks the first coal sale for Stanmore from Isaac Plains into offtake contracts with top tier Asian steel mills
Nick Jorss, Managing Director of Stanmore, said "On behalf of the Board I would like to express our sincere thanks to the key staff, contractors and consultants as well as to the 150 workers now employed at Isaac Plains who have worked diligently to restart the mine in such a rapid and safe manner."
"We are very proud to have joined the ranks of coal producers from Queensland's premier Bowen Basin which supplies some of the highest quality coking coal in the world as an essential raw ingredient to the steel industry. We are also very pleased to be contributing significant direct and indirect employment opportunities as well as kicking off the flow of millions of dollars in royalties each year to the State of Queensland."
About Stanmore Coal Limited
Stanmore Coal (ASX:SMR) is an operating coal mining company with a number of additional prospective coal projects and mining assets within Queensland's Bowen and Surat Basins. Stanmore Coal owns 100% of the Isaac Plains Coal Mine and the adjoining Isaac Plains East Project and is focused on the creation of shareholder value via the efficient operation of Isaac Plains and identification of further local development opportunities. Stanmore continues to progress its prospective high quality thermal coal assets in the Northern Surat Basin which will prove to be valuable as the demand for high quality, low impurity thermal coal grows at a global level. Stanmore’s focus is on the prime coal bearing regions of the east coast of Australia.
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