Stanmore Coal has entered into binding agreements to acquire a 600 t excavator (CAT 6060) for the Isaac Plains East mine from Hasting Deering (Australia) Limited. The trucking fleet required to support the excavator will be supplied by Golding. This equipment will join the operations at the Isaac Plains East mine and will either move prime overburden in front of the dragline or overburden in dedicated excavator and truck pits uncovering coal.
Stanmore Coal will finance the excavator through an equipment loan facility set up with Caterpillar Financial Australia Limited a lender associated with the OEM supplier. The term of the loan is five years.