Coked up on coal: Isaac Plains wins mining contract
A NEW Sydney Harbour bridge could be built every month with the amount of coking coal a Moranbah mine plans to produce from April, having signed off on its first contract.
Stanmore Coal announced yesterday it had signed a foundation coking coal contract for its Isaac Plains coal mine with a "top tier East Asian steel producer".
It would not name the Asian company or the specifics of the contract due to confidentiality.
Stanmore's managing director Nick Jorss said a number of other contracts were also under negotiation with steel producers.
"This foundation contract provides a strong platform for Stanmore's coking coal sales in the lead up to production," Mr Jorss said.
Stanmore Coal bought the Isaac Plains coal mine for $1 in July last year and Gladstone based Golding Contractors was awarded the contract.
Once it starts shipping coal in April, it would be the first new coal producer to enter Queensland's coal market in years.
It was mothballed by previous owners Sumitomo and Vale in September 2014.
About 150 jobs have been created at the mine, and although dragline operations have begun, not all the positions have yet been filled.
After production begins in April more than 700,000 tonnes of steel will be produced from the mine each year.
Isaac Regional Council mayor Anne Baker described the contract signing as positive news and said it was pleasing to see Isaac Plains on track towards meeting key milestones for the mine restart.