Caledon Resources plc was originally formed for the purposes of exploring precious metals in China. However in 2006 the company transformed from gold explorer to coal producer following the acquisition of the Cook Colliery and related mining operations in Australia, from Xstrata Coal Pty Ltd. Since then the Company has acquired the adjacent Minyango project, an area situated in a region of strategic importance within the Bowen Basin, surrounded by some of Queensland’s premier coking and thermal coal mining operations. The Company is now primarily focused on mining coking coal in Queensland. The company currently has coal resources (JORC), coking and thermal, totalling 366.5 million tonnes and 17 million tonnes of reserves.
Company information about: Caledon Resources
Caledon Resources record June coal production at Cook
Caledon Resources (AIM: CDN) has made significant progress with ramp-up of the Magatar Linear Mining System and mined a record 55,000 tonnes of coal at its Cook mine in Queensland, Australia, in June. Production looks set to beat this record in July. Target production at Cook is 100,000 tonnes per month, and one shift in June achieved the rate of production needed to achieve this.
Caledon has been achieving the equivalent of US$300 per tonne of coal, subject to adjusted for coal quality.
The new drift into the Argo seam is essentially complete and the Joy wide head miner will start product preparation work in late July which will supplement the company’s overall coal production. The company expects production 600,000 - 700,000 tonnes of coal for the full year.
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