Two coal mines are likely to be revived in Central Queensland’s Isaac region after a mineral producer sold them off to a competitor.
Bowen Coking Coal (BCB) is the new owner of New Hope Corporation’s Burton Coal Mine, 165km southwest of Mackay and New Lenton Coal Project – 120km southwest of Mack Town.
BCB plans to use its latest additions to establish a new processing hub at the existing Burton Complex. This involves ordering long lead items and assembling project teams for the Burton Coal Handling and Processing Plant’s refurbishment.
The plant is hoped to have a total processing capacity of up to 5 million tonnes per annum. It will also serve as a centralised coal wash plant for minerals transported from Broadmeadow East and other coking coal projects.
The kitchen and Accommodation Village will also need to be revamped. This will help reduce travel time, between existing accommodation facilities and the mine site, for refurbishing crews and mining contractors.
“The acquisition of New Lenton marks another important milestone for Bowen as we continue our emergence as the next significant mining company in the Bowen Basin. The Burton mine has a proven track record and has produced a coking coal brand that is known for its high quality, low ash and low sulphur,” executive chairman Nick Jorss said in a public statement.
“In conjunction with the recent $190 million [debt and convertible loan note] financing announcement, we look forward to bringing the Burton brand back to the seaborne market.”
Operations are expected to resume some time before Christmas 2022.
Grant Samuel and Gilbert + Tobin advised on the transaction. Taurus and New Hope are the funding partners.