Australian coal miner, Aquila Resources, says it remains committed to the Eagle Downs project in Queensland, despite commencing legal action against its joint-venture partner.
Earlier this week, Aquila issued Vale Australia with a default notice, because the two companies had failed to reach agreement on whether to export through the Abbot Point or Dalrymple Bay coal terminal.
Aquila spokesman Tony Poli told ABC Australian that it has now lost its rail and port capacity at Abbot Point and the statement of claim could be for hundreds of millions of dollars.
"We have a large coking coal project of some four million tonnes per annum production, that has a significant value as of today, has more value with rail and port capacity," he said.
"But if that were to be deferred and we don't see production for several years, then clearly that's going to erode the net present value of that mine significantly."
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