Caledon owns the Minyango Project located south of the town of Blackwater in Central Queensland, Australia. Caledon is evaluating options for the development of the Minyango Project.
Caledon has received the major government approvals required to develop the Minyango Project, notably the Mining Lease and Environmental Authority. These approvals support the development of a standalone underground mining operation with a capacity up to 9Mtpa of run-of-mine coal extracted from the Aries and Pollux seams of the Rangal Coal Measures. Coking and thermal coal products would be transported to customers along the Blackwater rail corridor with export sales through Caledon’s capacity entitlement at the Wiggins Island Coal Export Terminal at the Port of Gladstone. Caledon holds substantial surface property rights across the area of the mining lease.
Minyango Project’s coal resources, tabled below, were reported according to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia, December 2004 (the JORC Code), and Australian Guidelines for Estimating and Reporting of Inventory Coal, Coal Resources and Coal Reserves, prepared by the Coalfields Geology Council of New South Wales and the Queensland Mining Council, March 2003.