Despite what we read in the media about mining jobs, there are still mining companies who see real value in Queensland coal mines.
BHP invested billions in their new mines, now a little-known miner Cuesta Coal is hoping to raise $A8.5-million to develop coal assets.
Coal developer Cuesta Coal has been looking to develop its Moorlands project in Queensland for some time. Capital raising is always a challenge for smaller mining companies as they run the gauntlet of investor scrutiny and due-diligence.
The good news is, Cuesta Coal has† emerged from their gauntlet run, having signed a share subscription agreement with major shareholder Longluck Investment.
Under the terms of the agreement, Cuesta would place about 82.5-million new ordinary shares to Longluck, a subsidiary of Beijing Guoli Energy Investments, at an issue price of 10.3c a share.
Beijing Guoli has also committed to a further $A6.5-million investment in Cuesta.
The transactions were of course subject to shareholder approval, however the new round of funding would strengthen the company`s balance sheet and allow Cuesta to focus on developing the Moorlands project and reach a stage where a feasibility study was forthcoming.
Management†at Cuesta Coal have stated their elation of the new funding, given the challenging market conditions currently faced by junior coal companies in Australia. This was an outstanding result considering the† limited availability of funding.
“well worth the investment”
The result of the investments means Beijing Guoli`s total stake in Cuesta Coal is around $A47-million. This is a very healthy sign that there are Queensland coal mines†which are still considered to be well worth the investment and†this should†send a signal to job seekers that all is not lost in the coal industry.
An overview of the Moorlands Coal Project in Queensland
Essential reading for people seeking mining employment in the Queensland coal industry
- The Cuesta Coal Moorlands coal mining project is located in Queensland’s mining activity hub known as the Bowen Basin.
- The proposed mine is located 30 kilometres west of Clermont.
- The Moorlands project has an estimated coal resource of†280 million tonnes
- The coal reserves run for some 13 kilometres and†are about 1 to 2.5km wide in places
- Estimates reveal the mine will have a life of around 30 years
- The production rate is estimated to be around two million tonnes a year of run-of-mine (ROM) coal.
- The mine is situated 14 kilometres from the existing mining infrastructure at the Rio Tinto Blair Athol coal mine, which has since been closed.
- Coal mined at Moorlands will be transported 280 km to Dalrymple Bay Coal Terminal (DBCT), south of Mackay, where it will be shipped to international customers
Highly volatile bituminous thermal coal will be mined
Coal in the Moorlands Basin was discovered way back in 1979 by Pacific Coal at a depth of 96 metres. In 1985 an exploration program was committed to establish the coal quality and extent of coal resource within the tenement. A staggering 2208m of holes were bored to identify the existence of 3 main coal seams in this area, namely Monteagle, Kalbar-1 and Kalbar-2.
The coal that is found at the Moorlands open pit project is highly volatile thermal coal. The on-site CHPP will handle the coal which, when washed, will have an ash value within the range of 9 to 15 percent.
Beijing Guoli is the major Chinese investment Ccmpany
- Cuesta Coal’s major shareholder is Beijing Guoli.
- They are a Chinese owned energy investment company,†run by the State.
- Beijing Guoli holds its interest in Cuesta Coal through its wholly owned Australian subsidiary Longluck Investments (Australia) Pty Ltd.
- Beijing Guoli received approval from the Chinese government to invest in Cuesta Coal on June 5, 2013.
- Cuesta Coal acquired the Moorlands coal project from Hannigan and Associates, Orion Coal, in 2012.
Moorlands to be Cuesta Coal’s first open-pit coal mine
The Moorlands project has become Cuesta Coal’s ‘golden’ coal mining development, with production expected to begin in 2016. Once operational it will be Cuesta’s first open-pit coal mine in Australia since the company was formed.
Where are the Queensland coal mining jobs at Cuesta Coal?
If you’ve read this article, you’ll be aware that mining production is not expected to begin until 2016 – that’s perfect for people who are still considering a career in mining.
“the best place to start learning about the mining industry”
Mining jobs are not for everyone, and one of the best pieces of advice iMINCO can give is to do extensive research of the mining industry first. The weekly newsletter, iMINCO Project News is the best place to start learning about the mining industry and developing a strategy around applying for Queensland coal mining jobs with Cuesta.
There are somewhere in the region of 100 Project News publications in circulation – it’s a massive resource for new starters and even current workers who want to† increase their mining knowledge.
To get your copy, all you have to do is add your email address (click the banner below for more information) in the form on the next page. The next edition of Project News will be emailed to you.
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Get your hands on these free iMINCO e-books
E-books that could open the door to a high paying coal mining job with Cuesta Coal
- Get up to speed with mining employment opportunities in the Queensland coal industry.
- Are you looking for an entry-level mining job because you have no previous experience? This e-book explains the best way to go about getting an entry-level mining job in Australia.
- Learn how to create a resume that increases your chances of getting an interview at Cuesta Coal.
- Beat the Applicant Tracking Systems that could be used by Cuesta Coal to weed out weak job applications. (you must read this)
- Add this collection of essential mining job interview tips and make sure you read it before being called into an interview.
- Learn about the different mining jobs you can do – even if you don’t have any mining experience.
- Coming Soon . . . the complete list of Mining Apprenticeships in Australia.
Coal mining in Queensland has been sustainable for many years, despite the fluctuation of global markets and other factors that cause ripples in the industry. One thing is for certain, mining is her to stay. Australia is rich in resources that developing countries need.
Demand from Asia and other countries like India will continue to grow – this has been well reported across many media sources. The secrets to mining jobs longevity is to learn about the industry, stay ahead of the news, get the right training and qualifications, develop a positive attitude towards working in the mines and always be focused on maintaining high levels of safety and risk awareness.