re: Ann: Belvedere Hard Coking Coal Project P... No offence (to...

re: Ann: Belvedere Hard Coking Coal Project P... No offence (to mrssp) but that is a stupid article. That is the cost to build the project - not the 'value' of the project (i.e. resource).




Belvedere coal mine valued at $2.81bn: Aquila
Ross Kelly From: Dow Jones Newswires March 25, 2010 11:15AM Increase Text Size Decrease Text Size Print Email Share Add to Digg Add to del.icio.us Add to Facebook Add to Kwoff Add to Myspace Add to Newsvine What are these?
AQUILA Resources said a pre-feasibility study indicates that the proposed Belvedere hard coking coal project in Queensland will cost about $2.81 billion to build.

Aquila has a 24.5 per cent interest in the project and Brazilian mining giant Vale owns 51 per cent and conducted the study.

Vale has an option to buy Aquila's interest at "fair market value".

Aquila said Vale hasn't yet indicated whether it will exercise its option to buy the stake. The first six-month option period commenced December 4, it said.

Construction of the mine could commence in 2014 with first coal mined in 2016, Aquila said in a statement.