A multinational resources company is revamping a coal mine in Queensland’s Isaac region.
Peabody Energy recently began redeveloping its existing North Goonyella Coal Mine, 196km west of Mackay.
The proponent has already allocated $140 million towards first-stage works. These include a new 300-metre longwall system, Coal Handling and Preparation Plant, dedicated rail loop to the Dalrymple Bay Coal Terminal, and Accommodation Village for more than 400 workers. Further ventilation, equipment, conveyors and other infrastructure will also be required.
The project is promised to tranform the mine site into a “premium” hard-coking coal longwall operation with more than 70 million tons of reserves. This is timely due to metallurgical coal prices hitting “historical” highs that promise “attractive returns”.
Early construction is underway and expected to end sometime in the year 2026. AMR can reveal the total redevelopment is expected to cost a further $240M to complete.
“Coal prices remain at levels that result in a favorable outlook for each of our operating segments. We are pleased to be moving forward with redevelopment of the North Goonyella southern reserves to unlock the value of this strategic asset as we continue to strengthen our balance sheet,” Peabody president and CEO Jim Grech said in the company’s latest quarterly report.
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