Millennium Mine expansion to create 230 mining jobs as Blair Athol’s position strengthens

Hundreds of mining jobs will become available when a prominent Bowen Basin mine begins the second phase of its $80 million expansion.

Current and upcoming expansions of M Resources Millennium Mine are expected to create about 230 new jobs as of mid-2022.

The Coppabella mine, which celebrated its 10th anniversary last month, is currently undergoing open cut expansions as part of the Millennium Expansion Project.

Underground expansions are expected to begin mid next year.

M Resources founder and president Matthew Latimore said getting the underground into production would cost about $80 million for construction and equipment costs.

The expansions are expected to increase the mine’s coal production from 1.9Mtpa to 5.5Mtpa, with an additional 3.6Mtpa of product coal for export.

The project has also breathed new life into the Bowen Basin mine, which was expected to be decommissioned in 2015.

Now, the mine is expected to be extended to 2027.

“We have purchased and sold over 400 cargoes, blended coal and loaded from every port in Australia and sold to global steel mills,” Mr Latimore said.

“We have invested in coal mines and are the second largest shareholder in Stanmore Resources and the largest shareholder in Bowen Coking.

“We have let over $464 million in contracts in a short period since completion and undertaking auger and open cut mining and planning for underground operations in 2022.

“We are also the exclusive marketing agent for Stanmore, Bowen in Australia and Allegiance in the US.”

About 230 jobs will be created as part of Peabody Millennium Mine's underground and open-cut expansions. Picture: M Resources

Millennium’s first shipment of coal will leave Dalrymple Bay Coal Terminal in December.

“It is also very fortunate the metallurgical coal price has hit record high levels every, with today’s hard coking coal price over $400US per metric tonne FOB Australia,” Mr Latimore said.

Another mining company currently shining within the resources sector is TerraCom Limited.

After acquiring Blair Athol mine in 2017, emerging resources company TerraCom Limited has taken the Clermont-based mine from strength to strength.

Blair Athol coal has had a stellar end of the year in sales for its coal cargoes, with its coal fully sold until the end of January 2022.

The Clermont mine is expected to have a quarter coal sales forecast of 575,000 tonnes with a forecast revenue of $224 per tonne for December 2021.

In August this year, TerraCom announced it had extended the life of the mine by 10 years following a reserves update.