Newman Government welcomes Blair Athol Mine Acquisition

The Newman Government has welcomed the announcement that New Emerald Coal Ltd, a subsidiary of Linc Energy Ltd, will enter into a Sale and Purchase Agreement to acquire the Blair Athol Mine tenure from the Blair Athol Coal Joint Venture.

Natural Resources and Mines Minister Andrew Cripps said despite the industry being beset by low prices and depressed capital markets, the decision showed confidence in the future of both coal and Queensland.

“Natural Resources and Mines have worked hard to create a supportive environment for investment in the resource industry, which is one of the four pillars of the Queensland economy,” Mr Cripps said.

“This investment shows that industry is acknowledging our hard work to stimulate economic growth in Queensland and to improve business conditions.”

Mr Cripps said the move by the company was a vote of confidence in the strength of the Queensland economy.

“The Blair Athol Mine, which ceased operation in November 2012, is expected to produce up to 3 million tonnes of thermal coal per year once operations recommence, and create more than 100 jobs,” he said.

“Its reopening will help boost business in the region, with reciprocal benefits to be felt across the state.”

[ENDS] 4 October 2013

Media contact: Eleisha Rogers 0413 375 088