Olive Downs wins environmental approval
The tick-off from the State Government authorises activities over a 79-year mine life and provides the conditions, including environmental obligations, for the operation of the mine.
The company is still awaiting Federal Government approval under the Environment Protection and Biodiversity Conservation Act and the grant of its Mining Leases to allow construction to begin.
The project is expected to create up to 500 jobs during construction and up to 1000 operational jobs when it reaches name plate production capacity.
“The grant of the EA represents the most important milestone for the project so far and provides a clear pathway towards commencement of construction and first coal,” Pembroke chairman and chief executive officer Barry Tudor said.
The project is 100 per cent owned by Pembroke and backed by its major shareholder, global energy and resources private equity firm Denham Capital.
Mr Tudor (pictured) said that while the project pathway benefited from being a steel-making coal project in an established mining basin with access to established infrastructure, it also sought to deliver strong environmental outcomes.
“Pembroke has delivered an outstanding standard of assessment and will deliver exceptional rehabilitation outcomes in the development of Olive Downs,” he 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.”
Mr Tudor said Olive Downs had 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.