The green light has been given and final government approvals granted to Stanmore Resources for the development of the Isaac Downs mine in Queensland’s Bowen Basin, which will extend the existing Isaac Plains Complex.
The $82 million metallurgical coal mine extension project is expected to support approximately 550 jobs in the central Queensland coalfields.
“Queensland’s resources sector has continued to operate throughout the pandemic, supporting an average 76,000 jobs, and it remains central to the Palaszczuk Government’s COVID-19 Economic Recovery Plan.
“I welcome Stanmore’s ongoing investment and confidence in regional Queensland.
“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.
“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,” Resources Minister Scott Stewart said.
The Isaac Downs mine is projected to produce about 2.5Mtpa of metallurgical coal for up to a decade along with $200 million in royalties.
In addition, the mine will continue to generate jobs after coal production stops with a six-year site rehabilitation phase that will prepare the land to be handed back to the community.
According to Stanmore Chairman Dwi Suseno, approval of mining leases for Isaac Downs marks a major milestone for the company.
“This enables us to proceed with a critical project for the longevity and extension of the open cut operations supporting our Isaac Plains Complex, maintaining Stanmore as a competitive producer of essential ingredients for steel production by our global customers,” Mr Suseno said.
“Stanmore is committed to participating in community development in the Isaac region and Isaac Downs will ensure ongoing employment opportunities for the Moranbah area as well as enhancing the economic development of the region,” Stanmore Chief Executive Officer Marcelo Matos said.
The Isaac Plains East operations is anticipated to ramp down at the end of this year and operations will transition to Isaac Downs by late January 2022.
Source: Queensland Government – Media Statements; Stanmore Resources; Australian Mining; Creamer Media’s Mining Weekly