Stanmore Resources has received a mining lease for the Isaac Downs metallurgical coal project in Queensland’s Bowen Basin, allowing construction and operations to begin.
Minister for Resources Scott Stewart said granting approval for the mine was the right thing for jobs and the economy.
“This project will mean mining jobs for another 10 years, including for the 300 mine workers currently at Isaac Plains, as well as jobs completing rehabilitation in the Isaac Plains East area until 2025,” Stewart said.
“Isaac Downs will create up to 250 new construction jobs and business opportunities in and around Moranbah, as well as broader economic benefits for the Isaac region.”
The approval will allow up to 2.5 million tonnes per annum of metallurgical coking coal to be dug up for 10 years.
While creating $200 million in revenue for Stanmore, the project will feed run-of-mine coal to the coal handling and preparation plant at the nearby Isaac Plains complex.
Stanmore chairman Dwi Suseno explained the significance of the approval.
“The approval of the Isaac Downs project is a major milestone for the company,” he said.
“This enables us to proceed with a critical project for the longevity and extension of the opencut operations supporting our Isaac Plains complex, maintaining Stanmore as a competitive producer of essential ingredients for steel production by our global customers.”
The project has now received approval for the mining lease, environmental authority, and approval under the Environmental Protection and Biodiversity Conservation Act.
Stanmore chief executive officer Marcelo Matos said the company was dedicated to responsible operations.
“Stanmore has a proud track record of progressive rehabilitation of its operations and intends to adopt the same commitment at Isaac Downs,” Matos said.
“We are committed to participating in community development in the Isaac region and Isaac Downs will ensure ongoing economic employment opportunities for the Moranbah area.”
Stanmore bought the site in 2015 and hopes to have it ramped up by late January 2022.