The Queensland Government has approved Mining Leases for Pembroke Resources’ 100 per cent owned Olive Downs Coking Coal Project in Central Queensland, paving the way for the creation of new jobs and business opportunities.
The granting of the Mining Leases follows approvals from the Department of Agriculture, Water and the Environment under the Environment Protection and Biodiversity Conservation (EPBC) Act earlier this year, and the grant of the Environmental Authority (EA) by the State Government in 2019.
Olive Downs is forecast to create over 1,000 new jobs in the region as the project is developed to produce up to a forecast 15 Million tonnes per annum (Mtpa) of saleable coal over its 79-year mine life.
Pembroke Chairman and Chief Executive Officer Barry Tudor said the Mining Lease approvals were the final approval hurdle to commence the first stage of the project.
“We are extremely pleased to have been granted the Mining Leases, having consulted extensively with the local community over the past four years,” Mr Tudor said.
“In addition to our commitment to the environment, we have focused on creating local jobs and proactively engaged with all stakeholders, including establishing a strong relationship with Barada Barna as the traditional owners of the land, with whom we have an Indigenous Land Use Agreement and Cultural Heritage Management Plan in place.”
With some 838 million tonnes (Mt) of JORC Resources and 514Mt of Open Cut JORC Reserves of a globally recognised product, Olive Downs is acknowledged as a potential tier-one steelmaking coal project.
The project will supply steel-making coal to markets globally and has reportedly already attracted strong interest within the industry across Asia, including Japan, Korea and China.
Moreover, according to Pembroke, Olive Downs has already assembled the key elements required to commence construction following the grant of the Mining Leases, including securing access to power, water, rail and port, even as finance and offtake partners are finalised.
It is expected that the project will generate up to 500 construction jobs to build the mine and all of its associated infrastructure including rail, transmission lines, water pipelines and access roads.
