First coal at Isaac Plains
HIGHLANDS newest mine swings into production.
Wednesday 13 April 2016
THE Isaac Plains coal mine is inching closer to its first coal sales after management announced it had processed first coal through the handling and preparation plant last week.
In a written statement Managing Director Nick Jorss, said he was extremely pleased about the significant milestone.
“It is my great pleasure to announce the production of our first coal at the restarted Isaac Plains coking coal mine,” he said.
“We have a steady flow of run-of-mine (ROM) coal from mining operations and stockpiles to deliver the first shipments to our top tier Asian steel mill customers - the first of which is planned for early May.
“This milestone represents the culmination of a significant effort by the Stanmore team and we would like to thank the employees, key consultants and contractors for their hard work as we enter the next exciting phase of growth for the business.”
Stanmore also released its first JORC statement for the coal deposit adjacent to their existing Isaac Plains mining operations, known as Isaac Plains East.
The company says Isaac Plains East has 10.3 million tonnes of coal rated as “probable” under the JORC code. There were no changes to the existing Isaac Plains JORC statement where they have 3.7 million tonnes of “proved” coal resources and 1.3 million tonnes of “probable” resources.
Interpreting the results, Stanmore says it triples the mine life of Isaac Plains.
“The updated JORC reserve for the Isaac Plains complex increases the total open cut mine life from 3 to 10 years based on a steady state production rate of 1.5 mtpa run of mine coal,” they said.
"The mining conditions at Isaac Plains East are similar to those experienced at Isaac Plains and therefore amenable to a dragline operation."
The re-start of mining operations at Isaac Plains follows the Queensland Department of Environment and Heritage Protection signing off on Stanmore’s mining plan in late January.
In July last year, Stanmore Coal purchased the mine which was then in care and maintenance for just $1 from Japan-based Sumitomo Corporation. Sumitomo also loaned Stanmore money to cover contractual obligations, which Stanmore will repay when the mine is operating.
In 2011, Sumitomo Corporation paid $430 million for a half share in the Isaac Plains mine.
Stanmore Coal expects around 150 jobs will be created when the mine becomes fully operational.