Last year, the company was denied permission to develop the mine after it submitted an environmental impact analysis.
Kores said it will hold discussions with the government and will submit its final report of the environmental impact analysis for the project.
The company is expected to receive the final approval in 12 months.
The mine is expected to have an annual output of 4.5 million tons once it’s developed.
Kores chief executive Kim Shin-jong said in a statement that once the project is developed, South Korea will have a more stable supply of coal to be used in power generation.
In addition, Kores won the rights to explore the Wallarah 2 mine last year and has invested about KRW44 bn ($38.72m) in the mine.
The Korean consortium currently holds a 95% stake in the mine, including the 82.25% share held by Kores.
