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Why keep an eye on Bundaberg, there is coal in those hills....
I have been getting reports for a while on future prospects for Queensland. For a long the now people have been worried about investments especially in this region.
But Bundaberg is on the move.
I blogged about Masters store and now this latest news backed by Hancock is looking good. http://www.iloveproperty.net/2012/01/bundaberg-fight-over-new-masters-store.html
First off "the resources", people always ask me where do I get all my information, so
this time I will elaborate a little bit.
Below information comes from videos and One2One Investor Forums.
Also NewsMail reports
"A COAL exploration company will begin the drilling of coal seams around Avondale to examine the future viability of establishing mining operations in the region."
Where is Avondale.
Managing director David Round said the company's Bundaberg Project had been made a priority with an exploration target of 350 million tonnes of coking coal.
"It's quite a large tenement and obviously there are many factors we need to work through, including environmental concerns and the wishes of landowners," he said.
The initial drilling project, expected to cost up to $2 million, will take up to six months and include about 20 holes.
International Coal has also made a mining application with the Queensland Department of Mines and Energy for an additional parcel of land around Avondale and Yandaran, about 900sq km in size.
Bundaberg Regional Council Division 3 councillor Wayne Honor said International Coal was one of several companies to have coal exploration interests in his division.
He said the potential economic benefits of mining projects needed to be balanced with the need to protect underground aquifers and care for the environment
Cr Honor said he would be opposed to any underground coal gasification projects because of the region's proximity to a large water aquifer.
"The Bundaberg Water Aquifer sits very close to Avondale and supplies about half of the water to Bundaberg City," he said.
"We certainly would not want to do anything that could affect health of our residents or the health of our agricultural industry which underpins our local economy."
He said well-managed, environmentally conscious open-cut mining projects had the potential to employ new generations of Bundaberg residents and bolster the region's business landscape.
"It would be an absolute boom for the local economy and for the job prospects of our region," he said.
International Coal's website reports:
International Coals’ Bundaberg Project are located in a well known and highly prospective region, adjacent to a number of well established Coking Coal explorers and producers.
The Bundaberg Project already has a small JORC Resource of around 1.5 million tonnes,
however the exploration target is 280-370 million tonnes of coking coal.
International Coal’s Bundaberg tenementsThe Bundaberg Project is part of a solidly developing hard coking coal region, which hosts Northern Energy’s (ASX: NEC)proposed 105 million tonne Colton Mine 45 kilometres to the south of the project. Bundaberg also lies adjacent to Guildford Coal’s (ASX: GUF) exploration permit EPC 1872 where current exploration is being undertaken. Other near neighbours to the project include Cliff Resources and Hancock Coal.
Bundaberg has shown the potential for large tonnages of thermal and coking coal over two exploration coal-bearing targets – the Burrum Coal Measures and the Maryborough Formation.