The SGCP is a joint venture between Bandanna Energy and AMCI (Alpha) Pty Ltd (AMCI), and is managed by a wholly owned subsidiary of AMCI, Alpha Coal Management Pty Ltd.
The SGCP is proposed to be developed as an open cut and underground mining operation, with an estimated mine life of 33 years.
The
SGCP Joint Venture involves EPC 1048, EPC 1049, EPC 1179, and EPC 1180.
In consideration of this consent SGCP JV has agreed to provide certain benefits over the life of the project to the W & J People.
A Cultural Heritage Management Plan Agreement between SGCP and the W & J People was agreed and executed in July 2011 and approved by the Department of Environment and Resource Management in August 2011.
Under the terms of the Farm-In and Joint Venture Agreement ("Farm-In Agreement") between Alpha Coal Pty Ltd (100% subsidiary of Bandanna) and AMCI & AMCIC Stropdas Holding B.V ("AMCI"), AMCI is entitled to earn up to a 50% participating interest in the
SGCP from Bandanna by spending A$25 million on exploration and development of the project prior to 5 September 2011.