Yancoal Australia has been granted a mining lease for its Moolarben coal mine stage 2 project from the New South Wales Department of Industry Resources and Energy.
“The Lease embraces all land covered within the 3,741 hectares of four mining lease applications previously lodged 1 May 2008, 20 March 2009, 21 April 2009 and 13 August 2013. Receipt of the mining lease is a positive next step in the approvals process, with Yancoal now awaiting approval of a Mining Operations Plan,” the company said in an ASX Announcement.
Once fully developed, the Moolarben Coal Complex (stage 1 and stage 2 combined) is expected to produce up to 17 million tonnes of run-of-mine (ROM) coal annually for 24 years.
The company said that it will develop two underground mining areas once the approval is granted plus an additional new open-cut pit that will be developed to the east of the Moolarben operation’s approved open-cut coal mines.
Up to 120 new full time jobs will be generated at the project.
Moolarben Coal Operations operates the Moolarben Coal Complex on behalf of the joint venture partners, including Yancoal Australia (81%), a consortium of Korean companies represented by Kores Australia Moolarben Coal (9%), and Sojitz Moolarben Resources (10%).