Felix Resources Limited
Felix Resources is an expanding company with a primary focus on the mining of coal and the development and operation of coal related assets. Through this focus Felix Resources aims to ensure high quality and sustainable long-term stakeholder returns. Mines:
a. The Ashton underground and open-cut coal operations are located approximately 12 km north-west of Singleton in the Hunter Valley, New South Wales. The Ashton mines are adjacent to the open-cut mines of Glendell (Xstrata), Camberwell (Vale), Lemington (Rio Tinto), Ravensworth (Xstrata), and Narama (Xstrata). Adjacent underground mines include Glennies Creek (Vale) and Newpac (Xstrata). Felix Resources acquired the interest in the Ashton open-cut and underground projects effective from January 2005. Shortly after, a 30 percent stake was sold to the Singapore based International Marine Corporation Group (IMC) in August 2005. The Ashton Coal operation is an unincorporated joint-venture between Felix Resources (60%), International Marine Corporation Group (30%), and Itochu Corporation of Japan (10%) Felix is the operator of these mines. The Ashton open-cut and underground coal mines have a current production capacity of approximately 3.9 mtpa of high quality soft coking coal. This coal is predominantly exported to Asian steelmakers. Due to restrictions in the Newcastle (PWCS) Port a capacity balancing system (CBS) has been introduced, which will limit all shippers output.
b. The Yarrabee open-cut coal mine is located approximately 40 km north-west of Blackwater in Central Queensland’s Bowen Basin.The Yarrabee coal project has been owned and operated entirely by Felix Resources Limited since July 2003. Yarrabee is a wholly owned subsidiary. The Yarrabee mine is an open-cut coal mine with a capacity to produce 1.7 mtpa of low volatility, high energy, Pulverised Coal Injection (PCI) coal and Thermal coal. The coal which is produced at Yarrabee
c. The Minerva open-cut coal mine is Felix Resources fourth operating mine and is located approximately 45 km south of Emerald in Queensland’s Bowen Basin. The Minerva coal mine is an unincorporated joint-venture with Sojitz Corporation of Japan (45%) and Korea Resources Corporation (4%). Minerva Mining Pty Ltd (subsidiary of Felix) is the manager and operator of this project.The Minerva open-cut mine is a multi-seam mine designed with a production capacity of 2.5 mtpa. Minerva produces a premium thermal coal with a base market of Japan and Korea.
d. The Moolarben coal project is a world class coal asset located 40 km east of Mudgee in the Upper Hunter Valley, New South Wales. This project adjoins the Ulan coal mine (Xstrata/ Mitsubishi) to the north-west and the Wilpinjong coal mine (Peabody) in the east. The Moolarben deposit is an unincorporated joint venture with Sojitz Corporation of Japan (10%), a consortium consisting of Korea Resource Corporation (KORES), Korea Electric Power Company (KEPCO) and four of its generator subsidiaries, Kosep, Komipo, Kowepo and Kospo plus Hanwha Corporation Limited (a total of 10%). Felix owns 80% of the project and will operate the project. The Moolarben resource is approximately 610 million tonnes of high quality open-cut and underground thermal coal with approved capacity of 10 mtpa. The open cut strip ratio is less than 3:1.
e. Felix acquired 100% beneficial ownership of the Harrybrandt exploration project in January 2005. The project is located near Nebo in Queensland’s Bowen Basin. Nearby coal mines are Coppabella (Macarthur), South Walker (BMA) and Moorvale (Macarthur). Harrybrandt is located favourably with regard to established infrastructure and port facilities. f. Athena, located adjacent to the operating Minerva Mine, is an exploration project owned by Felix (51%), Sojitz (45%) and Kores (4%) in an unincorporated joint venture . The tenement area covers 27,000 hectares.
The Inferred Resource is 560 million tonnes. Initial drilling indicates coal of similar or better quality than Minerva. Drilling to date has produced an 11 metre intersection with a washed product of very high quality: NCIG Terminal
Felix Resources is one of six companies involved in the construction of the NCIG terminal which is designed with a final capacity of 66 million tonnes per annum. The first stage is 30 million tonnes per annum.
Read more about this topic: Coal Companies Of Australia
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