Pembroke Resources has received the Environmental Authority (EA) for its Olive Downs Coking Coal Project (Olive Downs) in Central Queensland, Australia. Granted by the Department of Environment and Science, the EA authorizes activities for Olive Downs’ 79-year mine life and provides the conditions, including environmental obligations, for the operation of the mine, according to Pembroke Resources.
“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,” Pembroke Chairman and Chief Executive Officer Barry Tudor said. “The grant of the EA represents the most important milestone for the project so far and provides a clear pathway toward commencement of construction and first coal.”
The project is 100% owned by Pembroke, an Australian specialist steel-making coal company and backed by its major shareholder, leading global energy and resources private equity firm, Denham Capital.
“Pembroke has delivered an outstanding standard of assessment and will deliver exceptional rehabilitation outcomes in the development of Olive Downs,” Tudor said. “In addition, we have acquired a significant area of land to dedicate to environmental outcomes. These areas will provide for the protection of native flora and fauna habitat in perpetuity, with the environmental area increasing over the life of the mine to become significantly more area than we started with.”
Olive Downs has assembled all the elements required to commence construction immediately following the grant of the mining leases, including access to power, water, rail and port. Last year, Olive Downs awarded a $184 million EPC contract for a coal handling and processing plant. The mine is expected to create up to 500 jobs during construction and up to 1,000 new jobs when the project reaches name plate production capacity.
Strategically positioned in the Bowen Basin, the project will supply steel-making coal to markets globally and has already attracted strong interest within the industry across Asia, including Japan, Korea and China.