Arckaringa
http://www.altonaenergy.com
brown-coal,
Phone:
Address:
20 Scott St, Parkside, SA, 5063
State: 20 Scott St, Parkside, SA, 5063
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The innovative Arckaringa Project in South Australia is another step closer to becoming a reality with the signing of new joint venture partners in November, 2014. The joint venture partners plan to develop a coal mine in the Arckaringa Basin of South Australia and then process the coal on site to produce methanol. The new partnership includes Altona Energy, Wintask Group and Sino-Aus Energy Group. Altona Energy will retain its position as operator of the project with a 45 percent shareholding, SinoAus will also have a 45 percent shareholding and Wintask will hold a 10 percent interest in the project.
Coal from the Arckaringa Project Will be Used to Produce Methanol
The Arckaringa project is a major Australian mining development thatbrings coal mining into the 21st century, as the coal mined at Arckaringawill be used as feedstock to produce methanol, for marketing to both theAustralian domestic market, as well as for export overseas. It is expectedto require thousands of workers to assist in the construction phase of theproject and 800 permanent workers when production commences. The project will create a world class carbon capture and storage facility tomanage the operation's greenhouse gas emissions. The project will operateas an open cut coal mine and a processing facility using existingtechnology to turn the coal into methanol, coal chemicals and syntheticgas.The project will be known as the Arckaringa Coal to Liquids Power Project as it will produce 10 million barrels of liquid methanol a year from its coal feedstock. The second stage of the project will also include the building and operation of an additional 280 MW base load power station.
Arckaringa Project Coal is Contained in Three Large Deposits
The coal resource at Arckaringa that is estimated to be equivalent to 7.8billion barrels is contained in three licences; Murloocoppie, Wintinna andWestfield, that covers 2,500 square kilometres of the Arckaringa Basin.The newly established joint venture formed to develop the Arckaringaproject will now complete a Bankable Feasibility Study to justifyfinancing, with the next step being the physical development of the project with the intention of bringing it into production.
Arckaringa Project Near Railway and Road Infrastructure
Altona Energy's previous joint venture partner, CNOOC-NEIA, had earlierpulled out of their agreement transferring all its interest to Altona Energy. Altona Energy originally acquired the three coal deposits in the Arckaringa Basin in November, 2005, through its fully owned subsidiary company, Arckaringa Energy Pty Ltd. The three deposits are near the Darwin to Adelaide railway line as well as to the Stuart Highway that links the two cities.The Arckaringa Basin coal resource was thoroughly explored during the1980's when many feasibility studies were undertaken on the Wintinna coaldeposit. It was planned at one stage to exploit the coal to power a powerstation at the site but this never eventuated.
