M Mining produced its first high-quality metallurgical coal over the weekend from the Mavis Downs Pit at the Millennium Mine in Central Queensland.
“Since commencing operations in August with an innovative mine restart plan, this has been an important early production milestone for us,” said Mr Matt Latimore, director and founder of M Mining.
“Achieving first coal so quickly is the result of a fantastic effort from our partners, suppliers, managers and workforce.
“In the nine weeks since completion of the sale of Millennium Mine, M Mining has established a strong operating team and issued $464m in contracts for Auger, Auger support, Open cut and Underground.
“Our work is underwriting the future growth of this operation, economic activity and local employment opportunities.
“Since announcing the acquisition of Millennium in April, we have said that this will be a low capital, fast to market asset, producing high quality coal.”
First coal came the day after a new historic high of US$380 per tonne for Australian hard coking coal. The next key milestone for M Mining is open cut mining at Millennium by November of this year.
The Millennium Mine will have opencut, high-wall and underground mining methods for the extraction of coal. This project is expected to produce 13.9m tonnes of high-quality coal during its 22-year life.