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Bandanna to proceed with Wiggins Island May 29, 2012 10:21 AM

Bandanna Energy Limited (ASX:BND) has received approval from the Queensland Competition Authority for the construction of the Wiggins Island Rail project.

The coal explorer says, it represents another significant step in its path to exploring first coal through Wiggins Island in the second half of 2014.

Bandanna is among a consortium of working partners to construct the rail project which also includes Aquila Resources (ASX:AQA) Northern Energy Corporation (ASX:NEC) and Cockatoo Coal (ASX:COK).

In the first half of the 2012 financial year, Bandanna Energy reported a net profit of $3.6million.

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