What is the story about?
What's Happening?
Yari Minerals, a Queensland-based explorer, has significantly increased its inferred coal resources at the Rolleston South Coal Project by leveraging data from neighboring State Gas. The data sharing agreement allowed Yari to expand its resource base without incurring additional drilling costs. The Rolleston South Project, located in the Bowen Basin, saw its inferred resources grow by 91% to 151 million tonnes, and later by another 26% to 190 million tonnes. The Bowen Basin is Australia's largest coal hub, and Yari's strategic location near major coal operations enhances its potential for resource growth.
Why It's Important?
The collaboration between Yari Minerals and State Gas exemplifies how data sharing can reduce exploration costs and accelerate resource development. This approach not only benefits Yari but also highlights the potential for similar partnerships in the mining industry. The increased coal resources bolster Yari's position in the competitive Bowen Basin, which is crucial for Queensland's economy. As coal demand remains strong, particularly for metallurgical coal used in steelmaking, Yari's expanded resources could contribute significantly to the region's economic output.
What's Next?
Yari Minerals plans to increase the confidence and size of its Rolleston South resource and conduct metallurgical test work. The company aims to apply for a mining lease by 2026 and conduct feasibility studies concurrently. With access to established rail and port infrastructure, Yari is well-positioned to capitalize on export opportunities. The proactive approach of the Queensland government in granting mining leases further supports Yari's development plans, as coal demand is expected to remain robust, driven by global markets like India.
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