A mineral producer expects to resume coal operation within months in Central Queensland’s Isaac region.
The Stanmore Coal-MetRes Joint Venture (JV) recently bought-out Peabody Energy Australia’s Millennium and Mavis Downs Coal Mine at Coppabella, 172km southwest of Mackay.
Once the JV assumes full control of mine assets, rights and obligations, the next order of business will be to reopen the operation sometime in July 2021.
Production will ramp up to 1 million tonnes per annum depending on rail and port capacity, while coal will be washed at the Red Mountain Infrastructure Coal Handling and Preparation Plant through a toll washing and train loading agreement.
This effort will require hundreds of new workers who still need to be recruited. None of the jobs are advertised yet.
“The restart of the Millennium and Mavis Downs mine is expected to create an estimated 150 to 200 jobs, through the investment in underground expansions and completion of rehabilitation obligations,” Stanmore Coal said in a public statement.
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Stanmore will provide the JV with finance comprising of a $15M working capital debt facility plus a further $15M debt facility to support rehabilitation surety obligations.
In exchange the company will gain access to available infrastructure, product blending, and other assets that might help save money on operational and project-related expenses.