Mine ‘last of its kind’

PEMBROKE Resources has labelled its $1 billion Olive Downs coal mine in Queensland the last major project of its type for a generation.

The miner will start public consultation on the project soon and development will begin within the next year. It will employ up to 700 people during the construction phase and a further 500 when it starts mining.

Olive Downs is planned to become one of the biggest coking coal mines in the world and will generate billions of dollars for the state economy, according to the company.

“I believe this is one of the last major developments of this generation,’’ Pembroke executive chairman Barry Tudor said.

“There’s very few opportunities like this if any.’’ It will be targeting local workers, rather than fly-in, fly-out miners and the company anticipates royalties to the State Government over the life of the mine will exceed $5 billion.