Beacon Hill increases coal resource

Coal miner Beacon Hill Resources has upgraded its JORC compliant coal resource at the Minas Moatize coal mine in Mozambique. There was a 59% increase in coal resource to 79.77m gross tonnes in situ, up from 50.31m tonnes previously. The measured and indicated resource is 123% higher at 56.73m tonnes. The measured resource part of that figure is 32.33m tonnes, up from 19.59m tonnes. All this means that overall mine life will be longer. The coking coal yield has increased significantly and this should provide an additional 200,000 tonnes of coking coal production a year - taking it to 900,000 tonnes a year. Coking coal prices are running at $250/tonne.