A new resource is to be developed that will extend the life of the Rotowaro coal mine operations in the North Island’s Waikato region.
BT Mining Ltd, owned 65% by Bathurst Resources Ltd (ASX: BRL) with the balance held by the Tally’s Group, will develop a new resource at Waipuna West on the Rotowaro operation that will guarantee a mining life for a further four years.
Bathurst has negotiated to purchase the existing mining fleet at Rotowaro for about $18 million to return the operation to an owner-operator status.
This, said Bathurst chief executive Richard Tacon, secured continuity of employment in the Waikato for the existing workforce.
“The four year extension to the life of Rotowaro operations is an excellent outcome for the region, with domestic coal being sourced for local customers and the security of more than 100 regional jobs,” Tacon said.
“BT Mining has been able to maintain cash margins and production volumes for these domestic sales and is grateful for the continued customer support.”