Australian Resources and Energy Group AREEA welcomed Federal Government last week approving Pembroke Resources’ Olive Downs Mine in Queensland.
AREEA Chief Executive Steve Knott congratulated the company on securing all the government approvals necessary to deliver this nationally-significant project
“The Olive Downs Mine will create 500 jobs during construction and 1000 long-term operational jobs in the powerhouse Bowen Basin coal mining region,” he said.
“It is also forecast to deliver around $10 billion to the state economy over the life of the mine, as well as providing vital stimulus for businesses along the supply chain and contributing $1 million to a regional environmental fund.”
Pembrokes Resources said the federal environmental approvals authorised activities for Olive Downs’ 79-year mine life, providing conditions for the operation of the mine and the associated infrastructure corridors, including environmental obligations.
“This is an exciting time for the Company and the region’s wider community,” Pembroke Chairman and Chief Executive Officer Barry Tudor said.
“The EPBC approvals, and the EA, which was granted last year, represent key milestones for the Project. The next key milestone is securing the grant of the mining leases, which will enable us to commence construction. We anticipate these to be granted in the coming months and look forward to construction and employment commencing shortly after this,.
Minister for Resources, Water and Northern Australia Keith Pitt has welcomed the approval of the Pembroke Olive Downs Mine in Queensland.
“This is great news for regional jobs and businesses in the important coal mining area around Moranbah. It is important for the Queensland economy and for the national economy” Minister Pitt said.
“The Olive Downs metallurgical coal mine will be part of our journey of recovery from the COVID-19 pandemic. It will add to strength of the resources sector as it leads Australia’s economic recovery”.
New projects vital for jobs in COVID-19 recovery
Mr Knott said securing new major resources and energy projects will be key to the nation’s post-pandemic economic recovery.
AREEA’s major project modelling, undertaken during the pre-COVID-19 environment, found 83 mining, oil and gas projects advanced in Australia’s investment pipeline, worth a combined $104 billion and estimated to create 25,000 long-term, production-based jobs.
“Many of these potential projects are now facing delays or even cancellation given the perfect storm of COVID-19 economic impacts and unexpected low prices in key commodities,” Mr Knott said.
“It is now more critical than ever to identify ways to reduce red tape and other barriers to industry development and investment which will drive jobs and economy recovery in the years following this pandemic period.
“The recent independent review of the Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act) provides government an opportunity to remove investment-killing red-tape from major project environment processes.
“Additionally, amending the Fair Work Act to allow enterprise agreements to operate for the life of new major project construction is a critical and urgent reform that would significantly improve Australia’s ability to attract global investment into new major resources and energy projects.
“Streamlined approvals processes and a ‘fit for purpose’ industrial relations system will make a formidable partnership for converting Australia’s major project investment potential into a reality.”
