More than 150 jobs are anticipated to be created through the expansion of MetRes Pty Ltd’s mining operations in Central Queensland.
MetRes – a joint venture between Stanmore Coal and M Resources – has successfully acquired the Millennium and Mavis Downs coal mines from Peabody Energy Australia and is now in preparation to restart operations.
“This sale agreement is great news for Queensland and will help with our state’s COVID-19 economic recovery.
“This venture will create more than 150 jobs through investment in underground expansions and completion of rehabilitation obligations.
“With a predicted mine life of 22 years including rehabilitation, these are lasting jobs and will create long-term royalties that will benefit all Queenslanders.
“This investment is a strong sign of the growing confidence in our resources sector as Queensland continues its road to economic recovery,” Resources Minister Scott Stewart said.
The Millennium and Mavis Down mines are located near Moranbah, adjacent Stanmore Coal’s Isaac Downs operations.
The mines will use mix of open cut, high wall as well as underground mining methods to extract high-quality metallurgical coal.
The restart of Millennium and Mavis Downs operations is projected to have a total production capacity of 13.9 million tonnes of metallurgical coal over its entire lifespan.
Minister Stewart added that the Queensland Government will continue supporting the resources sector for the royalties as well as jobs created through this significant industry, most especially in regional Queensland.
“The resources sector supports more than 84,000 jobs across Queensland and represents $44 billion in exports.
“The sector has played a vital role in supporting jobs during the pandemic and will continue to do so in the future.
“Queensland is naturally blessed with the world’s highest quality metallurgical coal, which the world needs to make steel.
“Even as the world transitions to renewables, metallurgical coal for steel will remain an essential and valuable international export commodity for Queensland,” Minister Stewart said.
Mining activities at the mines are anticipated to commence in August 2021 and MetRes is also in the process of executing rail and port logistics contracts for this project.
Source: Stanmore Coal; Queensland Government – Media Statements; Australian Mining