Stanmore Coal’s $90 million Isaac Downs mining project near Moranbah has been declared a prescribed project.

Regional Development Minister Glenn Butcher said the project would provide ongoing long-term employment for workers at the region’s existing Isaac Plains mining complex as well as new jobs and economic growth.

“Pending all necessary approvals and Stanmore Coal’s business plans, project construction could begin as soon as early 2021 with the mine possibly becoming operational in mid-to-late-2021,” he said.

“The construction phase of the project is expected to create 250 jobs.

“The project will also provide ongoing long-term employment for workers at the company’s existing Isaac Plains Mining Complex, with 220 workers transferred to the new mine.

“In addition, Stanmore Coal estimates that when operational, the new mine will create an additional 80 new jobs.”

Mr Butcher said Stanmore estimated the economic contribution generated by Isaac Downs for the region would be $2.5 billion over its anticipated 16-year life.

“A further $457.9 million is expected to be generated in economic contributions for the rest of Queensland,” he said.

Stanmore chief executive officer Craig McCabe welcomed the decision, saying the prescribed project declaration would assist in securing timely approvals.

The planned Isaac Downs open-cut metallurgical coal mine is expected to produce about 35 million tonnes of coal over 16 years.

The company said last month it had spent $1.3 million in the three months to June 30 on Isaac Downs studies and approvals-related costs.