New jobs in Moranbah as Isaac Plains set to reopen

Stanmore Coal is edging closer to re-opening the Isaac Plains mine near Moranbah, with 150 job opportunities soon to come for local workers.

With the opening scheduled for February 2016, Stanmore Coal has not specified whether the mine will require FIFO workers.

Isaac Plains was put into care and maintenance by joint owners Vale and Sumitomo in September 2014, when 300 workers lost their jobs.

Isaac Plains will be opened at a reduced capacity of 1.1 million tonnes per annum, compared to the 2014 output of more than 2 million tonnes per annum.

Stanmore bought Isaac Plains for a peppercorn fee of $1 earlier this year, under agreement to take on contractual obligations including $32 million worth of mine rehabilitation.

In 2011 Sumitomo paid $430 million for Aquila’s 50 per cent stake in the mine, in expectation of good returns, however it accepted the loss at the mine’s closure as am $11 million writedown on its other Australian investments.

Isaac Plains will have a three year lifespan, however Stanmore have plans to open a new operation called Isaac Plains East.

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