Premier Re-Opens Central Queensland’s Isaac Plains Mine

Premier Re-Opens Central Queensland’s Isaac Plains Mine

Queensland Premier Annastacia Palaszczuk

Queensland Minister for Natural Resources and Mines Anthony Lynham

Mine Re-Opening Heralds Industry Future 

Victor P Taffa

The re-opening of Central Queensland’s Isaac Plains Mine today underlines the solid long-term prospects for the Queensland resources sector.

Officially re-opening the mine near Moranbah in central Queensland, Premier Annastacia Palaszczuk said the mining sector was doing it tough, but demand remained strong for Queensland’s resources and expertise.

 

“As the re-opening of Isaac Plains here today in Central Queensland shows, investors still have confidence in Queensland and our resources.” Premier Palaszczuk said.

“We have new faces, like Stanmore Coal, and new investors who are calling the bottom of the market, stepping up and creating jobs, like the 150 jobs here at Isaac Plains.

“As well, we have major players like QGC and Rio Tinto investing billions in gas and bauxite, commodities where markets are holding better.” Premier Palaszczuk said.

Minister for Natural Resources and Mines Anthony Lynham said the government was aware of sustained lower prices, particularly in coal, and the flow-on effects for regional communities.

“The bright side of the coal market is that the modern world needs steel and it can only be made with coking coal like the coking coal produced here at Isaac Plains.” Dr. Lynham said.

“The hard coking coal price has increased about 20 % over the past quarter, on the back of ongoing steel demand.”

“But we also know that we need to nurture the green shoots, with initiatives like our 50 % exploration expenditure discount, on top of our ongoing royalties freeze and low payroll tax rates.” Dr. Lynham said.

QLD Minister for Natural Resources and Mines Anthony Lynham

QLD Minister for Natural Resources and Mines Anthony Lynham

 

 

 

 

 

 

 

 

“The Coordinator-General’s powers to cut red tape are available to support business, as has happened here at Isaac Plains, with the Carmichael coal mine, rail and port project and at MMG’s Dugald River in the north-west.”

Stanmore Coal’s Isaac Plains East expansion has also been declared a prescribed project.

“This will help Stanmore extend the life of their existing open cut operation to more than 10 years, with further possible expansion to an underground operation.” Dr. Lynham said.

“Our government supports the sustainable development of our resources for the jobs and economic development this offers and we will keep working hard to support companies like Stanmore Coal turn their plans into reality.”