Cougar Energy closer to shipping coal through Gladstone

CONTROVERSIAL Australian Securities Exchange-listed Cougar Energy is one step closer to shipping coal through Gladstone, with the company completing a conceptual longwall study on its Mackenzie PCI Coal Project.

The project, located about 25km north-east of Blackwater, was found to have an inferred resource of 201 million tonnes.

It also completed a capital cost and operating cost breakdown, with any such longwall operation to set Cougar back $860 million.

It also noted that ongoing operating costs would be about $113 per tonne.

Cougar chairman Andrew Matheson said it would now look at funding the project.

The company was recently fined $75,000 by the state government after being found to have released benzene into the local water supply at Kingaroy as a result of its underground coal gasification trial.

However, the department of environment found that there was no actual harm to the environment as a result of the release.