Cockatoo Coal to Sell Thermal Coal Project

Australian firm Cockatoo Coal is planning to sell its Taabinga thermal coal project located in Queensland.

The firm has appointed RFC Corporate Finance to handle the sale of the project, which has estimated undeveloped coal resources of 252Mt, reports Dow Jones Newswire.

The deposit is located close to the existing rail line that runs as far as Gladstone, where the Wiggins Island Coal Terminal will be built by a consortium of miners.

The port will export coal from the Taabinga coal project from 2016, when it is due to be expanded.

From the total coal resources present at the Taabinga project, the measured and indicated reserves are equal to 91Mt.

Cockatoo Coal also operates the Baralaba coal mine and several other projects in Queensland, which are currently in the development stage.