Carborough mine gets extension approval
The Fitzroy Australia’s Carborough Downs South coal project in central Queensland has been granted a mining lease which will extend the Carborough operations by another 11 years.
The Carborough mine was granted an 11-year extension
Resources Minister Scott Stewart said the extension of the mine would support about 700 jobs and was a strong vote of confidence in the state’s resources sector.
Coal production is expected to begin in the next 12 months.
“The Carborough mine is a significant employer and economic contributor for the Isaac region and this extension ensures the future stability of those jobs,” Stewart said.
He said the extension would create flow-on economic benefits for the entire Isaac region.
The approval follows the granting of a mining lease to New Hope for its Acland thermal coal mine.
But it also comes amid a backlash from the sector over a royalty hike on coal.
BHP has frozen its capital spending on its Queensland mine as it assess the impact of the hike and the Queensland Resources Council yesterday released a report claiming companies were already deploying capital to other jurisdictions because of the sovereign risk in Queensland.
