Paringa Resources has obtained the complete rights to acquire the surface property  needed to build its Poplar Grove mine in the US.

The 1.8 million tonnes per annum (Mtpa) mine, formerly known as No 2 Mine, is located immediately south of the company’s proposed 3.8Mtpa Cypress mine, both located within the Buck Creek Complex in Kentucky.

Rights secured by the company represent a total of 318 acres controlled by local landowners.

Paringa said that the secured mine site property for Poplar Grove complements the Barge Load-Out facility and the Cypress mine site, which was earlier obtained and permitted.

"General investor sentiment for US thermal coal continues to show signs of improving."

Permitting for the mine is underway and remains on track for mine construction to begin early next year, with production expected to begin in early 2018. 

Paringa Resources president and CEO David Gay said: “Over the coming months, Paringa is looking forward to updating the market on the Poplar Grove Mine’s design, infrastructure, Opex estimate, leasing and permitting.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“General investor sentiment for US thermal coal continues to show signs of improving, providing an ideal environment to finalise financing discussions for the best undeveloped thermal coal project in the US."

The company also expects significant reductions to the operating costs (Opex) at the Poplar Grove mine due to reductions in the costs of labour, materials, and supplies, as well as leased equipment.