Australian mining firm BHP Billiton is expanding its probe for coal reserves on Isla Riesco in deep-south Magallanes, raising cautious expectations that coalfired generators will eventually have a new domestic supply source that can compete with low-cost imports. BHP Billiton recently decided to conduct a second drill campaign on the remote island, located about 50km northwest of Punta Arenas in the XII region. In April 2006, the company exercised its options to secure surface and coal concession rights on Isla Riesco, also known as Estancia Invierno, and conducted initial exploration between October 2005 and May 2006 to define the extent of the resource. The firm has begun work on an environmental impact study and is pursuing a maritime sea concession.
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