Stanmore coal (ASX:SMR) has announced that the Isaac Plains East mining leases and the Commonwealth environmental protection (EPBC) approvals have been granted.
The grant of the leases supports the extension of the life of the Isaac Plains Complex.
Production at the Queensland coal mine is expected to commence in the first quarter of 2019 which is in line with Stanmore’s intention to boost production by 50 per cent in the 2019 financial year.
The company says the mining lease will provide around $75 million in State Royalties over the life of the operation.
Shares in Stanmore Coal (ASX:SMR) are trading 1.43 per cent higher to $0.71.