CQ coal mine shuts, costing region 250 jobs
A COAL mine in Central Queensland has just been mothballed despite the surge in global prices.
The Australian newspaper reported this week that the Burton coal mine 290km north-west of Rockhampton, was quietly put on care and maintenance last month.
This comes in the wake of extra coal earnings for the mine’s owner Peabody Energy, which is expecting a $US562 million ($767m) Australian windfall from its previously loss-making mines.
Peabody has confirmed the Burton mine, which was its highest-cost Australian mine producing thermal and coking coal, had closed.
“The transition of the Burton mine in Queensland’s Bowen Basin into a care, maintenance and rehabilitation phase (was completed) in December 2016 following successful completion of the Thiess contractor mining contract,” a Peabody spokesman said yesterday.
In August, Peabody Energy’s creditors approved a plan that involved a major scaling back of production at its Australian assets and the closure of its Burton mine.
It was believed 247 jobs would be lost.
Thiess has reportedly refused to comment on the mine closure or job losses.
The Australian reported the St Louis-based Peabody, whose huge US domestic mines make it the world’s biggest private-sector coal company, had released updated earnings forecasts for the next five years showing the healthy earnings from its Australian mines.
Burton Mine, about 290km north west of Rocky