Pembroke Resources chief executive Barry Tudor. Photo: Mark Cranitch.
Pembroke Resources chief executive Barry Tudor. Photo: Mark Cranitch.

CQ mine construction start date closer with key approval

PEMBROKE Resources is confident it will be able to start construction on its $1 billion Olives Downs coking coal mine within a few months.

Proposed 40 kilometres southeast of Moranbah in the Bowen Basin, the project this week received environmental approval from the Department of Environment and Science.

Pembroke Resources chief executive Barry Tudor said the grant of the EA represented the most important milestone for the project so far.

“The company now looks forward to receiving Federal Government approval under the Environment Protection and Biodiversity Conservation Act and, to the grant of its mining leases so that construction and jobs can commence,” Mr Tudor said.

A Pembroke spokesman said the company was expecting both of those to be finalised in the coming months.

“We’ll be ready to start work as soon as we can get those approvals,” he said.

The Olive Downs project is expected to create 500 full-time equivalent jobs during construction and 1000 full-time equivalent operational jobs on average over its 79-year life span.

Pembroke said in addition to its positive contribution to employment and the local economy, the steel-making coal project would also generate “billions of dollars” in royalties for the State Government.

Queensland Resources Council chief executive Ian Macfarlane said Pembroke Resources’ announcement that the project had received its Environmental Authority was good news for Central Queenslanders.

“The Isaac region is a heartland for our resources sector, creating so much of the wealth that benefits our state. This project will be another valuable addition to Queensland’s world-leading resources sector,” Mr Macfarlane said.