Gloucester upgrade

GLOUCESTER Coal this morning announced upgraded coal reserves of 30% to 28.5 million tonnes and an increase in coal resources of 23Mt at its Gloucester Basin tenements in New South Wales.

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At the end of May this year Gloucester's reserves were 28.5Mt, an increase over 21.9Mt at the end of 2006.

The company said the reserves had an average strip ratio of less than 3.5:1 and include 8.

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