Yari Minerals (ASX:YAR) is set to acquire the Rolleston South coal project in Queensland, adding 78.9 million tonnes of high-calorific-value coal to its portfolio. The acquisition of Rolleston South from Resource Chain involves 119.5 million Yari shares and 86 million performance rights, granting Resource Chain a 19.9% stake in Yari. Rolleston South, located in the Bowen Basin, spans 272 square kilometers and is near coal operations owned by Glencore and Peabody Energy.
Yari’s managing director, Anthony Italiano, stated the acquisition aligns with the company’s criteria for a JORC-compliant mineral resource in a Tier 1 jurisdiction. The company plans to review the resource model, incorporate data from coal seam gas wells, and initiate a drilling program to expand the mineral resource. Rolleston South contains six target coal seams within the Bandanna Formation. Drilling in 2018 confirmed the presence of these seams, with thicknesses up to 6.06m. Historical laboratory results indicate the coal is high-grade, low-ash, and high-energy, suitable for export as a thermal product.
