Pembroke’s Olive Downs $157m Federal lifeline
Pembroke Resources’ Olive Downs project near Moranbah, Central Queensland, has been thrown a lifeline by the Federal Government. The National Australia Infrastructure Facility (NAIF) has approved a $175m loan to support the $900m metallurgical coal project in the Bowen Basin. Federal Resources, Water and Northern Australia Minister Keith Pitt said the Olive Downs project will support up to 700 jobs during construction and more than 500 new jobs when operational. “NAIF has approved a loan of $175 million to support the mine’s first stage of development which includes rail, and transmission lines, water pipelines, access roads and a coal handling preparation plant,” he said. The coal will be taken by rail to the coal terminal at Dalrymple Bay for export…