Bowen Coking Coal’s wholly-owned Isaac River project in Queensland’s Bowen Basin has been granted a site-specific Environmental Authority (EA) from the Queensland Government.
Bowen Coking Coal has also had the Isaac River Progressive Rehabilitation and Closure Plan (PRCP) schedule approved by the State Government.
The Isaac River project was one of the first coal projects to have an upfront PRCP and schedule assessed and approved.
The mining lease application (MLA) has also taken a big step forward after the company has entered into an agreement with the Isaac Regional Council that resulted in the removal of the sole objections against both the EA and MLA.
Bowen Coking Coal managing director and chief executive officer said the EA approval was a major milestone for the project and was now on its way to becoming another one of Bowen’s new mines.
“The project requires only a modest capital investment as it is planned to leverage off existing third-party infrastructure,” he said.
“Isaac River will contribute additional high-quality metallurgical coal to the company’s sales mix, complimenting the Bluff and Broadmeadow East/Burton projects, which are on track for near-term exports.”
The Isaac River project is located in the central Bowen Basin, approximately 30km to the east of Moranbah in Central Queensland.
In recent weeks coal prices have risen to all-time-high levels on the back of increased demand from Asia, coupled with supply shortages fuelled by the crisis in Ukraine and subsequent sanctions against Russia.
The MLA and federal environmental approval under the EPBC Act are underway and are expected to be completed early in the third quarter of this year.