Stanmore Coal announces licenses granted

Company News

by Anna Napoli

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.
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.