Stanmore begins shutdown of Mavis Underground
Stanmore Resources (ASX: SMR) announced it will begin halting mining operations at the Mavis Underground coal project in Queensland from the end of June 2024.
This follows a strategic review that determined the project, given its relatively short mine life, has proven to be uneconomic under current market conditions and coal prices.
The review cited comparatively higher costs driven by the challenging ramp-up and lower production volumes achieved to date.
The Mavis Underground pit, part of the larger Millenium project, will be closed and sealed, with the Millennium Complex as a whole expected to reach steady state minimum expenditure care and maintenance regime by the end of 3Q 2024.
The potential Millennium underground development option will be unaffected by the shutdown. Core operations at South Walker Creek, Poitrel and the Isaac Plains complex are expected to continue to perform strongly this year.
 announced it will begin halting operations at the Mavis Underground coal project in Queensland from the end of June 2024.){kind=link}