International Coal closer to getting permit for Consuelo coking coal project

Australia-based miner International Coal has announced that, together with its joint venture partner Coal Face Resources, it has accepted the terms and conditions proposed by the Queensland government for the Consuelo coking coal project permits. The permit applications are subject to final ministerial review.
 
According to International Coal, the Consuelo coking coal project has an exploration target of between 800 million and 1.7 billion mt and will be operated by International Coal under a joint venture agreement that allows it to earn up to a 71 percent interest in the project. The project is located close to existing rail and port infrastructure.
 
The exploration works on the project are planned to start in the financial year 2013-14.