Xstrata to Invest $1.36bn in Australian Coal Mine

13 December 2010 (Last Updated December 13th, 2010 18:30)

Xstrata is developing the Ravensworth North open cut coal mine in the Upper Hunter Valley of New South Wales, Australia, for a total investment of $1.36bn. Located within the existing Cumnock Coal and Ravensworth complex, the mine will produce eight million tons per annum of export therm

Xstrata is developing the Ravensworth North open cut coal mine in the Upper Hunter Valley of New South Wales, Australia, for a total investment of $1.36bn.

Located within the existing Cumnock Coal and Ravensworth complex, the mine will produce eight million tons per annum of export thermal and semi-soft coking coal at full production, with a mine life of approximately 26 years.

The firm expects to commence construction in early 2011, subject to the receipt of regulatory approvals.

First coal is expected to be delivered in July 2012.

The Ravensworth North project is jointly owned by Cumnock No 1 Colliery (Xstrata Coal) with a 90% interest and ICRA Cumnock (Itochu) with a remaining 10% interest.