Australia's Riversdale Mining has completed a feasibility study for a coal mine in Mozambique and will send it to Indian firm Tata Steel, which has a 35 percent stake in the project, to analyse.
Riversdale said in a statement on Saturday that the viability study was based on the estimates of coal reserves it made in April.
The study envisaged that, in an initial phase, 5.3 million tons will be extracted per year. Of this, 1.7 million tons will be top quality hard coking coal for export, plus 300,000 tons of thermal coal also for export.
Riversdale said expansion to the second stage, by 2014, will raise production to 10.6 million tons a year, including 3.3 million tons of coking coal and 2 million tons of thermal coal for export.
The third stage will almost double production to 20 million tons a year, it said, leaving open the timeframe.
"The timetable for the third stage will depend, among other factors, on the future conditions of the coal market, and the availability of port capacity and of rail and river transport," reads the statement.
Mining and coal processing should begin by early 2011.
SourcE: Reuters
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