Central South Property Coal Mine
Central South Property Coal Mine is a coal mine with a proposed production of 1.5 million tons of coal per year. The project is located 60 km west of Chetwynd and will include a coal preparation plant and a power line to the BC Hydro power grid.
About This Project
Xstrata coal is the world's largest exporter of seaborne thermal coal used to generate electricity and one of the largest producers of coal used to make steel and other industrial applications. The company's headquarters are in Sydney, Australia and it has interests in over 30 open cut and underground coal mines in Australia, South Africa, Colombia, and exploration projects in British Columbia, Canada.
Xstrata has recently offered to purchase 100% of the shares, options and warrants of First Coal Corporation for $1.75 per share. First Coal has been exploring in the Peace Region since 2004, with about 53,000 hectares under tenure license including two potential mines in the Central South property and the South Cirque property, is now the largest holder of coal properties in the region.
Douglas Smith, president and CEO of First Coal Corporation, stated that "First Coal has been exploring a range of potential transactions and financing alternatives for the Company for some time, and we feel this arrangement will provide the technical expertise and financial stength to further develop the coal properties held by First Coal."
As of late, Xstrata has indicated they will be coming to Chetwynd to discuss community responsibilities and what is going to happen sometime after the formal approval takes place.
Estimated Project Start Date
2012 - Exploration Phase
Xstrata Coal Canada
Suite 900 - 1285 West Pender St.
Vancouver, BC V6E 4B1
Economic Development Contact
Economic Development Officer
District of Chetwynd