What's Happening?
Yari Minerals, an Australian coal exploration company, has significantly increased its inferred resources at the Rolleston South Coal Project by leveraging a data sharing agreement with State Gas. This collaboration has allowed Yari to enhance its resource base without incurring additional drilling costs. The Rolleston South Project, located in Queensland's Bowen Basin, has seen its inferred resources grow by 91% to 151 million tonnes, and further to 190 million tonnes. The data from State Gas's coal seam gas wells has been instrumental in identifying thicker coal seams than previously anticipated, which supports the potential for further resource expansion. Yari is now focused on increasing the confidence and size of its resources and is planning a maiden drilling campaign by the end of 2025.
Why It's Important?
The expansion of Yari Minerals' coal resources is significant for the Australian coal industry, particularly as global demand for metallurgical coal rises. With India aiming to double its steel production, the need for imported metallurgical coal is expected to increase, positioning Yari to capitalize on this demand. The strategic location of the Rolleston South Project, with access to critical infrastructure like the Blackwater rail system and the Port of Gladstone, enhances its export potential. This development also reflects the proactive approach of the Queensland government in accelerating mining project approvals, which could further stimulate economic growth in the region.
What's Next?
Yari Minerals plans to apply for a mining lease and conduct feasibility studies by 2026, aiming to establish a fully permitted, shovel-ready project. The company is also pursuing regulatory approvals for its drilling campaign and is engaging with strategic investors and stakeholders to advance its mining plans. As global demand for coal remains robust, Yari's strategic moves could position it as a key player in the international coal market.
