Millennium and Mavis Downs Mine : PIMS Mining bags $310m mining contract
PIMS Mining has bagged an AUD 425 million ($310.84 million) contract for providing underground mining services to the Millennium and Mavis Downs Mine in Australia owned by Stanmore Resources and M Resources.
The contract awarded by MetRes Pty Ltd., the joint venture between Stanmore Resources and M Resources, is for a duration of five years.
Located near Moranbah in Queensland, Millennium and Mavis Downs Mine was acquired by Stanmore Resources and M Resources from Peabody Energy Australia in April 2021. The coal mine was mothballed at the time of the acquisition.
The underground mining services contract, which has just been awarded, is another important milestone in re-opening the coal mine after the restart of auger and open-cut operations in the third quarter of 2021, said Stanmore Resources.
Under the contract, PIMS Mining will be responsible for carrying out underground mining using the bord and pillar method. The mining will begin at Mavis Downs and later transition to Millennium.
Stanmore Resources expects production from the Millennium and Mavis Downs Mine to be more than 1.2 million tonnes run of mine per annum from July 2022.
The Australian coal company stated: “With AUD 80 million to be spent on infrastructure, civil works and locally built mining equipment the mine represents a boost to the Australian economy as Queensland continues to recover from COVID-19.”
Stanmore Resources further added that the underground mining services contract will result in 100 mine construction jobs and over 125 direct full-time mining roles for the region.