Bandanna Energy Limited (ASX:BND) Release of EIS for the South Galilee Coal Project

Bandanna Energy Limited (ASX:BND) today announced that the Queensland Government has approved the release for public review of the Environmental Impact Statement (EIS) for the South Galilee Coal Project.

The South Galilee Coal Project (SGCP) covers EPC 1048, EPC 1049, EPC 1179 and EPC 1180. In May 2011 MLA 70453 covering the northern portion of EPC 1049 was lodged, coincident with an area the subject of a February 2011 Resource Statement. The SGCP is located at Alpha, approximately 170 km west of Emerald in Central Queensland.

The SGCP is a joint venture between Bandanna Energy and AMCI (Alpha) Pty Ltd (AMCI), and is managed by a wholly owned subsidiary of AMCI, Alpha Coal Management Pty Ltd. Bandanna Energy holds a 50% interest in the SGCP through its wholly owned subsidiary Alpha Coal Pty Ltd.

The SGCP is proposed to be developed as an open cut and underground mining operation, with an estimated mine life of 33 years. Mine plan development supports an average production rate of 15.2 Mtpa raw coal, yielding an average 13.6 Mtpa of product coal and peaking at 16.6 Mtpa of product coal.

The SGCP joint venture expects that around 1600 people will be required during the two year construction phase of the SGCP, with an operational workforce of 1290 once the mine is in production. The proposed mine includes coal handling infrastructure, a mine water management system, mine access roads, an on-site accommodation village and a rail spur to connect to a common user rail line.

The SGCP EIS will be available for public comment until 5pm Monday 3 December, 2012. The EIS is available to view online at the Department of State Development, Infrastructure and Planning website at www.dsdip.qld.gov.au/sgcp and will be on public display (subject to local opening hours) at Barcaldine Regional Council, 43 Dryden Street, Alpha, Barcaldine Regional Council, 44 Pasteur Street, Jericho, State Library of Queensland, Cultural Centre, Stanley Place, South Bank, Brisbane and the National Library of Australia - Parkes Place, Canberra ACT 2600.

Managing Director Mr Michael Gray welcomed the approval of release of the EIS, noting "that the EIS process is a critically important stage in the SGCP approvals process and in our engagement with key stakeholders in the broader community."

View the full Bandanna Energy announcement at the link below:
http://media.abnnewswire.net/media/en/docs/ASX-BND-700630.pdf



About Bandanna Energy Limited

Bandanna Energy Limited (ASX:BND) is uniquely positioned to become Australia's next coal producer. The company's core activities are exploration, project evaluation and development of thermal and PCI coal assets located in Queensland, Australia.

Bandanna Energy is the only ASX listed company with substantial coal assets in both the Bowen and Galilee basins subject to EIS and advanced mine studies. The company is committed to working constructively with the communities in which it operates, and delivering growing returns to shareholders, government and the community.

Bandanna Energy's Springsure Creek underground thermal coal project is scheduled to commence production in mid-2015. Bandanna is a 14% shareholder in Wiggins Island Coal Export Terminal (WICET) Stage 1 at Gladstone, with port allocation of 4Mtpa for the Springsure Creek Project, and has also secured the necessary infrastructure capacity for the integrated rail haulage of coal from the Springsure Creek Project to port.

 

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