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BHP closes deal to offload Queensland coal JV to Stanmore

200 JOBS: Joint venture to acquire CQ mine

Premium Content Subscriber only Two companies have joined forces to acquire and restart a Central Queensland mine, set to create an estimated 150 to 200 long-term jobs. Stanmore Coal and M Resources have agreed to buy the Millennium and Mavis Downs metallurgical coal mine near Moranbah as part of a 50/50 joint venture called MetRes. An underground expansion, along with continuation and completion of rehabilitation is tipped for the site after it was acquired from Peabody Resources. MetRes chair Matt Latimore said the investment presented a great opportunity for an innovative and agile operation, with access to existing critical infrastructure already in place.

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