Monto

Profile

41% via 80.39% interest in Monto Coal 2 Pty Ltd

ML 80101

MDLA 445

MLA 80175

EPCs 613 and 683

120 kilometres south-west of Gladstone within the Mulgildie Coal Measures

Wiggins Island Coal Export Terminal

Thermal coal

A detailed exploration programme was curtailed in August 2010 due to wet weather and access restrictiions.

This programme will recommence in FY2012 in conjunction with other exploration work to support the MDL and ML applications.

A Mineral Development Licence Application (MDLA) was submitted in July 2010 and an application to extend the mining area for Stage 1 (MLA 80175) was successfully lodged.

Macarthur Coal also continued study work for both stages of the project.

Stage 1 - The pre-feasibility study was revisited and feasibility work optimised accordingly. Contracts were awarded for the drilling of water and monitoring bores.

Stage 2 - The pre-feasibility study continued and mine planning options were evaluated.

Baseline studies for the EIS commenced.

A mining lease for Monto Stage1 was granted in 2005 for production of up to 1.5Mtpa ROM coal.

A formal application and supporting documents have been lodged with WICET to secure capacity in the Stage 2 expansion scheduled for completion in 2015.