After acquiring Peabody Energy’s Olive Downs coking coal deposit on May 2016, Pembroke Resources is now planning to invest approximately $1 billion to build one of Australia’s largest coal mine in Queensland’s Bowen Basin.
Pembroke’s Barry Tudor – former Managing Director of Gloucester Coal – has begun with the mining approvals process.
“We know it’s a world-class asset and we are advancing it as quickly as we can,” Mr Tudor said.
According to Mr Tudor, Pembroke is planning to increase the mine’s production of low-cost coking coal to 14 million tonnes annually.
The project – expected to commence works in 2019 – will include the construction of a processing plant as well as rail infrastructure which will be used to transport coal for export to Mackay. The project will also be supporting around 1,000 jobs.
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Source: Australian Mining and The Australian Business Review