Allegiance moves to complete New Elk buy

A feasibility study into the New Elk coking coal project, in Colorado, has estimated that the $28.4-million project could produce some 2.7-million tonnes a year of run-of-mine coal, and two-million tonnes a year of saleable coal.

ASX-listed Allegiance Coal on Thursday said that the study estimated that the project would have a mine life of 23 years, based on a total resource of 267.6-million tonnes.