Update - 22 December 2023
BATHURST COMPLETES THE PURCHASE OF THE TENAS PROJECT
IN BRITISH COLUMBIA
Bathurst Resources Limited (ASX:BRL) (Bathurst) is pleased to announce it has completed the purchase of the Tenas Coking Coal Project assets (Tenas Project) from Telkwa Coal Limited, a subsidiary of Allegiance Coal Limited (in liquidation) (controllers appointed).
The strategic investment
The purchase of the Tenas project is consistent with Bathurst’s strategy of increasing exposure to steelmaking coal, while also increasing Bathurst’s footprint in a Tier 1 mining jurisdiction.
The purchase means Bathurst now holds an interest in two long life Canadian steelmaking coal projects with the ability to produce metallurgical in excess of 15 years and will enable an expected total production of 3.8 million tonnes of metallurgical coal across the New Zealand and Canadian assets.
Further information about Bathurst is available on our website: www.bathurst.co.nz
The Tenas Project is located in the Bulkley Nechako region, 25 km south of Smithers and 7 km southwest of Telkwa, BC. The Project will produce approximately 775,000 to 825,000 tonnes of steelmaking coal annually, with a mine life of about 25 years including construction, operations, and reclamation phases.