Bandanna to go ahead with Bowen Basin

Mining company Bandanna Energy said it will proceed with a coal project in central Queensland’s Bowen Basin despite a slowdown in the resources sector.

The company is hoping to start production from a new mine at Springsure Creek, south of Emerald in 2015.

Managing director Michael Gray said Springsure Creek’s coal reserve is high quality and costs are towards the lower end, the ABC reported.

He said the high Australian dollar and lower coal prices will not impact its plans.

The company plans to submit a response to 49 submissions to its environmental impact statement by the end of this month.

Gray said the company’s focus is on the medium and long-term price stance, and the company does not have any revenue that would be influenced by short-tern lower prices. 

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