Here is part of the assessment and appraisal of just one of the properties
For purposes of the appraisal, it is estimated that the market price "in situ" of thermal coal is of US$ 3/ton averaged for the bitumen surface and depth; while the market price of coking coal "in situ" is of US$ 9/ton (also averaging in bitumen surface and depth).
4.2 Exploitable Potential of Mine
The Exploitable Potential (EP) of this concession has not been determined because the EP will be given by the Work Program (PTO) and mining design to be established (open pit or tunnel). However, for purposes of this assessment, it is estimated that the Exploitable Potential will only be 70% of the reserves calculated in this study.
4.3 Calculation of reserves
The width of the concession area averaged 238 m and the total length of the area was rounded at 2150 m, taking into consideration 20 seams with variable thickness from 0.2 m to 7.0 meters wide.
Thus the reserves have been estimated at a total of 13,073,935 m3, which amounts to a total of 16,996,116 tons (at a density of 1.3 ton/m)3).
The outstanding features of the reserves that must be taken into account for the design of the mining plan are: the discontinuity and location of Carboniferous material that is of economic interest, the physio-chemical characteristics described in the corresponding apart from this report. The results are very representative of the existing potential of coal, and can guarantee the mining operation for several years.
4.4 Time of exploitation
The amount of coal in exploitation by day, month and year will be determined by the Work Program (PTO), the Environmental Impact Assessment (EIA), and the mining design. Also the exploitation technique will affect the amount mined periodically; with open pit more resources could be exploited, while tunnel exploitation will be less. For purposes of the present appraisal, an exploitation of 100,000 metric tons/month was estimated for a total of 1,200,000 tons per year.
Obviously, this operation will depend on the amount of capital available to invest in the mine, the type of exploitation, and the trends of the global coal market, the evolution of the price of oil and many other variables.
For its part, the license is valid for 27 years (3 of the 30 initial years have passed) and can be extended for another 30 years, so it does not take into consideration the legal term of exploitation.
If exploitation is done at 1.2 million mt/year, exploitable coal extraction could take less than 15 years.
4.5 Estimate of the value of reserves
According to the given prices and estimated amounts in reserve, the gross value of La Tabaquera Mine is US$ 70,230,825. By taking into account a maximum of 70% exploitablity, the mining assessment would amount to US$ 49,161,578.
Three things cannot be long hidden: the sun, the moon, and the truth.
Buddha
