Pike River Signs $19m Coal Preparation Plant Contract
Thursday 28 June 2007, 4:53PM
By Mediacom
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Pike River Coal Limited has today signed a $19 million contract for the design and construction of the Coal Preparation Plant (CPP), to be developed at the mine site 46 kilometres north-east of Greymouth. The total cost of the Coal Preparation Plant including other necessary equipment is $20 million as budgeted by Pike River.
The Coal Preparation Plant will take raw product delivered from the underground mine via a 10.6 kilometre slurry pipeline, and remove any reject material such as rock. It will wash, grade and stockpile the coal, ready for transport to the port of Greymouth. The design capacity is approximately 1.5 million tonnes of raw product.
The contract was signed with Brightwater PEAT Limited, a joint venture company owned 50% by Brightwater Engineering Limited, a Nelson engineering and construction company - and 50% by Australian owned PEAT (Australia) Pty Limited. PEAT has designed more than 27 CPP's located around the world.
Pike River General Manager, Mines, Peter Whittall says “The Coal Preparation Plant is a brand new installation using well established technologies and processes as well as state of the art plant. Part of the technology will be the installation of an elemental analyser to perform continuous on-line, real time, precise and accurate analysis of the coal moving on the conveyor belt. This gives us a huge advantage when it comes to grading the coal and our ability to maximise our return.â€Â
The Coal Preparation Plant can deliver coal of differing grades to four stockpiles located on Pike River owned land, where there is storage capacity for 90,000 tonnes.
The plant will be built over the next 10 months.
Chief Executive Gordon Ward said “The Coal Preparation Plant contract has been signed as signalled in the Prospectus for the Initial Public Offer (IPO) of shares and completes another important step in moving closer to productionâ€Â.
The Pike River IPO to raise a minimum of $65 million through the issue of new shares, closes on 10 July 2007. Pike River shares are expected to list on the NZX and ASX on or around the 20 July 2007.
The Coal Preparation Plant will take raw product delivered from the underground mine via a 10.6 kilometre slurry pipeline, and remove any reject material such as rock. It will wash, grade and stockpile the coal, ready for transport to the port of Greymouth. The design capacity is approximately 1.5 million tonnes of raw product.
The contract was signed with Brightwater PEAT Limited, a joint venture company owned 50% by Brightwater Engineering Limited, a Nelson engineering and construction company - and 50% by Australian owned PEAT (Australia) Pty Limited. PEAT has designed more than 27 CPP's located around the world.
Pike River General Manager, Mines, Peter Whittall says “The Coal Preparation Plant is a brand new installation using well established technologies and processes as well as state of the art plant. Part of the technology will be the installation of an elemental analyser to perform continuous on-line, real time, precise and accurate analysis of the coal moving on the conveyor belt. This gives us a huge advantage when it comes to grading the coal and our ability to maximise our return.â€Â
The Coal Preparation Plant can deliver coal of differing grades to four stockpiles located on Pike River owned land, where there is storage capacity for 90,000 tonnes.
The plant will be built over the next 10 months.
Chief Executive Gordon Ward said “The Coal Preparation Plant contract has been signed as signalled in the Prospectus for the Initial Public Offer (IPO) of shares and completes another important step in moving closer to productionâ€Â.
The Pike River IPO to raise a minimum of $65 million through the issue of new shares, closes on 10 July 2007. Pike River shares are expected to list on the NZX and ASX on or around the 20 July 2007.