Closure, Coal, News

Stanmore closes a chapter in Mavis

coal

Stanmore Resources has made the decision to cease operations at Mavis Underground, a coal project part of the wider Millennium Complex in Queensland.

The news comes after Stanmore completed a comprehensive strategic review of the project and determined that, due to its relatively short mine life, the project has proven to be uneconomic under current market conditions.

“Discussions with the mining services contractor PIMS and associated consultation with the workforce have started, with production operations at Mavis expected to cease by the end of June followed by closure and sealing of the Mavis pit,” Stanmore said in a statement.

Stanmore expects that the potential Millennium underground development option will not be affected by the decision to close Mavis, but will be subject to capital allocation and prioritisation strategy.

“We do not expect consolidated guidance metrics provided in our market announcements in February to be impacted, as our core operations at South Walker Creek, Poitrel and the Isaac Plains complex are expected to continue to perform strongly this year,” Stanmore said.

Stanmore took full ownership of the Millennium Complex in December 2023. Prior to this, Stanmore and M Resources owned the complex in a 50–50 joint venture after acquiring the asset from Peabody Energy Australia in July 2021.

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