|Four new mining leases have been granted for Stanmore Coal’s Isaac Plains.
At peak production from the newly approved open cut mining operations, Isaac Plains East has the potential to produce 1.6 million tonnes of metallurgical coal annually.
Stanmore Managing Director Dan Clifford said the new leases lay a further foundation for achieving full production capacity at the Isaac Plains complex.
“These new leases combined with future plans for Isaac Plains will help us to realise our objective to produce approximately 2.7 million tonnes of product coal per annum,” he said.
Isaac Plains Coal mine has operated since 2006 but production ceased and the mine was placed in care and maintenance in January 2015.
Stanmore Coal re-opened the mine in mid-2016, after purchasing it for a dollar from its former operators. It produces mainly export metallurgical coal for steel production.
The first coal from the extension is expected to be produced by early in the first quarter of next year.
Stanmore Coal advised the Australian Stock Exchange this week that the grant of the leases would provide $75 million in state royalties over the life of the mine.
Four new leases, covering 1249 ha, were next to the existing mine’s operation, meaning it will be able to use existing coal processing and railing infrastructure, and mining equipment.
Coal from the new leases will be transported via the Goonyella Branch rail line to Dalrymple Bay Coal Terminal for export.
The project is a coordinated project, which allows the state’s independent Coordinator-General’s powers to cut red tape and speed government approvals.
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