A coal operation is under new management in Queensland’s Central Highlands region.
Magnetic South recently acquired the Walton Coal Project, about 100km east of Emerald.
The proponent, owned by Jellinbah Group founder Sam Chong, has ambitious plans to revive exploration and assessment at the mine site, especially after discovering the site has a potential production rate of up to 2.2 million tonnes per annum.
The project, which previous owners Walton Coal abandoned in May 2022, was promised to create 100 construction jobs plus a further 223 operational positions.
“Magnetic South is committed to build on its executive team’s 60-year experience [in] exploring for and operating steel-making coal assets,” Magnetic South resource development division manager James Xu said according to InQueensland Media.
“Our plans for development of high-quality steel-making coal have been energised by [both] the Australian and Queensland government’s leadership on the clean energy transition, with a major expansion of wind farms and electricity transmission lines driving demand for steel.”
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