Orion Mining takes official ownership of Blair Athol coal mine

The Queensland government has transferred the mining lease for the Blair Athol coal mining project to Orion Mining, officially completing the $1 acquisition.

TerraCom, Orion’s parent company, bought the mining asset for $1 as part of an arrangement with the state government where the mine’s former owners would pay the state just under $80 million for the site’s rehabilitation.

Orion’s plans for both mining and rehabilitation will launch next months with over 600 jobs to be created and an estimated $1.2 billion worth of product set to be extracted over the next seven years.

Orion chairman and TerraCom board member, Jim Soorley, said: “The completion of transfer of the Blair Athol mining lease is not only great news for TerraCom but is great news for the community of Clermont and the state Queensland, with up to $80 million in taxes and royalties to flow from the re-opened mine operation and with the recommencement of rehabilitation activities.”