Stanmore Coal has notched up another record, mining 3.02 million tonnes of coal (ROM) at the Isaac Plains complex, Moranbah, in the past financial year.

It marked a three per cent increase on the previous year, and included 638 tonnes mined in the June quarter and 813 tonnes in the previous quarter.

The company highlighted industry-leading dragline performance and the introduction of a CAT6060 excavator in November last year as key factors behind a record year for prime waste mining, with 41.3Mbcm shifted.

The product coal total of 2.39 million tonnes was ahead of guidance and matched the previous year’s record for coal produced. Total coal sales were down 1 per cent on the previous year.

Approvals timing critical

The company also provided an update on its bid to extend the area of disturbance approved for ongoing Isaac Plains East operations, noting that environmental approvals were expected by the end of 2020.

This would allow access to an extra 8.2 million tonnes of coal resources.

“These approvals are critical in balancing the timing of transition to Isaac Downs while maintaining current production levels,” it stated in its quarterly report to the ASX.

Stanmore has previously indicated it plans to first coal from the new Isaac Downs mine in early 2022.

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

It will extend the life of the Isaac Plains complex, operating as a satellite mine about 10km south of existing operations.

Stanmore spent $1.3 million in the three months to June 30 on Isaac Downs studies and approvals-related costs.

The EIS has been through the public notification stage and Stanmore expects a supplementary EIS to be submitted to the government after additional field work and associated investigations are complete.

Stanmore said infrastructure designs had been undertaken for major components of the Isaac Downs project, including the flood protection levee, the haul road to link the project to the existing mine facilities and the haul road underpass of Peak Downs Highway.

An on-market takeover offer for Stanmore Coal was completed in May, resulting in increased shareholding of 75.33 per cent for Golden Investments.

Stanmore has executed a non-binding term sheet with parent entity Golden Energy and Resources (GEAR) for a $US40 million term loan facility.