Pembroke Resources has been granted the needed mining licences for the Olive Downs coking coal project in central Queensland, Australia.
The approvals are the final ones needed to commence the initial state of the project, which is projected to produce as much as 15 million tonnes per year over a 79-year mine life.
The licences follow the granting of approvals to mine from the Department of Agriculture, Water and the Environment under the Environment Protection and Biodiversity Conservation (EPBC) Act which was received early this year, and the grant of the Environmental Authority by the Queensland Government in 2019.
Olive Downs has already collected its other key elements for construction, including access to power, water, rail and port. Finance and offtake partners are being finalised.
The Bowen Basin coal operation is 100% owned by Pembroke, and is being backed by energy and resources private equity firm Denham Capital, which is a major project shareholder.