With this milestone reached, Bandanna aims to complete compensation arrangements with landowners in the project area, plus advance the project financing front.
“The EIS approval also satisfies key investment criteria for many of the potential customers and joint venture partners we are speaking to in relation to the Springsure Creek project,” Bandanna managing director Michael Gray said.
He said Springsure Creek was one of the few Queensland mining projects that were ready to proceed with access to existing rail and port capacity.
“We have given unprecedented commitments to the Queensland Government to protect the productivity of agricultural land so we are pleased that our EIS has been approved, and we can now move into the final regulatory approval stages for the grant of the mining lease for the mine area,” Gray said.
Other loose ends include gaining federal environmental approval and stage one completion of the Wiggins Island Coal Export Terminal.
Bandanna estimated that stage one development of Springsure Creek would directly create 1022 full-time jobs, plus another 2104 jobs indirectly.
The explorer has previously flagged starting construction of the project in the September quarter of 2014, with first development coal expected in 2015.
The thermal coal project is initially targeting 5.5 million tonnes per annum of capacity.
First longwall coal is expected in the second half of 2016.
If the expansion to double output goes ahead, first coal from the second longwall is expected in 2020.
