The project will extend the mine’s life to 2029 with the inclusion and progressive development of two new resource areas, the company said.

“The revised project will boost current employment to 435 local jobs for mining operations, plus another 260 jobs will be created during construction. Flow-on jobs and benefits will be substantial for local communities with indirect jobs expected to grow to more than 2850.

“The project will provide a $530 million injection into the southeast Queensland economy each year and a boost of $12 billion to the local, state and national economies over the life of the mine.”

Upon review of the additional environmental impact statement report, the Queensland coordinator-general conditionally approved the project in December 2014.

The Federal Environment Minister was due to issue a decision on the project in February but has required a three-month extension following the change in Queensland government.

“New Hope has listened to community and government concerns relating to the previous proposal and has developed a revised version of this plan that addresses these issues,” the company said.