Aquila Resources Ltd
(ASX:AQA) has announced that its 50% owned Eagle Downs Hard Coking Coal Project has been offered 4 million tonnes per annum port capacity within the planned Abbott Point Coal Terminal X50 expansion.
The allocation granted by North Queensland Bulk Ports Corporation is subject to completion of take or pay contracts in the first quarter of 2010.
The Eagle Downs Hard Coking Coal Project, 50% owned by Aquila and 50% by Vale, is a proposed underground longwall coal mine in QLD’s Bowen Basin.
The project is scheduled to commence underground development in 2012 with the first longwall expected to be producing in 2014 at a rate of up to 4.6 million tonnes per annum.
Aquila Resources posted a loss for the 2009 financial year.
