Comet ridge coking coal project

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The Comet Ridge coking coal project is a proposed open-cut coking coal mine, which would lie 60 kilometers east of Emerald and 25 km south of the township of Comet in Queensland, Australia.[1]

It is unclear whether this project is a priority for its owner, Bowen Coking Coal, since there have been no new developments in several years. (Comet Ridge remains listed as a tenement of interest in the company's 2022 annual report, but no further details are mentioned.)[2] As such, the mine is presumed cancelled.

Location

The satellite image below shows the approximate location of the proposed mine.[1]

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Background

The Comet Ridge coking coal project is owned and operated by Bowen Coking Coal Ltd., which acquired the project from Acacia Coal in 2017.[3]

In its 2019 Annual Report, Bowen states that, in May 2018, it "had entered into a binding Term Sheet with Springsure Creek Coal Pty Ltd (SCC) to sell its 100%-owned Comet Ridge Project (EPC830 & MLA700005) in exchange for a $100,000 cash payment and a royalty stream of 1.25% of FOR (Free on Rail) revenue from the first 2.8Mt coal produced from Comet Ridge."[4][5] However, in October 2018, Bowen terminated the deal because the two parties could not reach an agreement on certain key commercial issues.[6]

Although an application for a mining lease was submitted to the Queensland Department of Natural Resources and Mines in March 2015 (an Environmental Impact Management Report was submitted concurrently with the mining lease application), and environmental approval was received in August 2016, as of January 2020, the Mining Lease Application had not yet been granted by the Queensland Government.[1]

Project Details

  • Operator: Bowen Coking Coal[6]
  • Owner: Bowen Coking Coal[6]
  • Location: 60 km east of Emerald, Queensland, Australia[1]
  • GPS Coordinates: -24.008602, 148.372046 (approximate)[1]
  • Status: Cancelled[1]
  • Production Capacity: 350,000 tonnes[7]
  • Total Resource: 60 million tonnes[2]
  • Mineable Reserves:
  • Coal Type: Coking coal[1] 80% and thermal coal 20%[7]
  • Mine Size:
  • Mine Type: Open-cut[1]
  • Start Year:
  • Source of Financing:

Articles and resources

References

  1. 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 Bowen Coking Coal, "Comet Ridge", Bowen Coking Coal website, accessed 7 January 2020.
  2. 2.0 2.1 [ https://www.investi.com.au/api/announcements/bcb/69cc5087-ac9.pdf Annual Report 2022], Bowen Coking Coal, accessed March 2023.
  3. Acacia Coal, "Annual Report 2018", page 1, 2018.
  4. Bowen Coking Coal, "Annual Report 2019", page 10, 2019.
  5. Mining Monthly, "Bowen to sell Comet Ridge for $100k plus royalties", Mining Monthly website, 22 May 2018.
  6. 6.0 6.1 6.2 Maryam Adeeb, "Bowen, Springsure Creek terminate Comet Ridge coal project deal", S&P Global Market Intelligence, 16 Oct. 2018.
  7. 7.0 7.1 Mining Monthly, "Springsure sale beckons", Mining Monthly website, 1 April 2015.

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