The Queensland Government has welcomed news that US company Peabody Energy will extend its North Goonyella mine operations until 2026, creating 7 more years of work for mine employees.

Located 160km west of Mackay, North Goonyella produces high-strength coking coal that is exported to long-term customers in India for steel production.

Peabody has announced that it will extend North Goonyella’s life from 2019 to 2026, using advanced longwall technology.

Responding to the announcement, Mines Minister Anthony Lynham said it was good news for the local community and a sign of a resurgence in investor confidence.

‘This is welcome security for the mine workforce, local businesses who supply the mine, their families, and their communities,’ he said.

‘Stronger prices, stable government and policy, and access to world-class infrastructure, workers and supply chains is driving investor confidence.

‘I congratulate Peabody and their employees on their future.’

In 2017, Peabody sold 2.9 million tonnes of coal from North Goonyella, exporting it through Dalrymple Bay Coal Terminal to global demand centres.

The Queensland Trade and Investment Strategy 2017–2022 identifies mineral resources as one of Queensland’s major export strengths and investment opportunities.

Rising coking coal prices have been a major contributor to Queensland’s strong export figures in the past 12 months.

Image credit: Peabody Energy