Pembroke Resources

Olive Downs Steelmaking Coal Project

Explore how NAIF's financing supports the Olive Downs Steelmaking Coal Project, creating jobs and economic growth in Queensland's Bowen Basin.

Investment Decision

April 2021

Sector

Resources

Location

Bowen Basin, QLD

Pembroke Olive Downs Steelmaking Coal Project Two Workers Inspecting Large Orange Mining Truck on Olive Downs Steelmaking Coal Project

LOAN DETAILS

NAIF Loan Amount up to

$167.5m

Total Project Value

$877m

Length of Loan

10 years

PUBLIC BENEFIT

$6.2bn

Forecast Jobs

1,200+

Project Status

Financial Close

NAIF’s loan towards the construction and development of the Olive Downs Steelmaking Coal Project will help create more than 1,200 jobs and boost the delivery of high-quality coking coal to key markets including Japan, South Korea and India.

About Pembroke

Founded in 2014, Pembroke Resources is a dynamic mining company specialising in the exploration, development and extraction of vital natural resources, with a primary focus on steelmaking coal. 

At the forefront of the industry, Pembroke Resources is deeply involved in every stage of the coal-mining process, from the initial identification of potential coal reserves to the meticulous extraction, processing, and seamless exportation of coal to the market. With a commitment to excellence, Pembroke Resources is driving innovation within the natural resource sector.

Project Overview

The Olive Downs Coking Coal Project, situated in the Bowen Basin 40 km south-east of Moranbah in Queensland, will create more than 1,200 jobs.

Ramping up from an initial production of 4.5 million tonnes of steelmaking coal per annum, at peak production Olive Downs is forecast to produce up to 15 million tonnes per annum. The coal will be transported by rail to the Dalrymple Bay Coal Terminal for export to key international markets such as Japan, South Korea, Vietnam, and India.

Construction of the mine is expected to take 18 months, and Pembroke has committed to providing workers with an opportunity to live in towns near the mine including Moranbah, Dysart and Mackay.

How We Helped

NAIF’s financing of up to $167.5 million will be used in the first phase of construction to build roads, water infrastructure, rail and power supply infrastructure, as well as a coal handling and preparation plant.

Public Impact

The project is forecast to contribute more than 1,200 jobs during construction and operations. 

The benefit to the Queensland economy and the Central Queensland region is forecast to reach more than $6 billion during the construction phase, which NAIF is supporting. Pembroke Resources estimates that the project will contribute more than $10 billion in public benefit over the life of mine.

Related Links

Indigenous Engagement

Traditional owners of this land

  • The Barada Barna people

The Barada Barna people are the Traditional Owners of the lands on which the Olive Downs Complex is located. The Barada Barna people traditionally inhabited the lands of the interior of Central Queensland, extending from the towns of Moranbah and Dysart in the Bowen Basin to the west, towards the Conners Ranges in the east, and the town of Middlemount in the south. 

Barada Barna country includes landmarks such as the Dipperu National Park and the Isaac River, an important waterway that flows through the western portion of Barada Barna Country. Barada Barna’s Native Title claim was determined and recognised by the Federal Court in June 2016.

Indigenous Engagement Strategy Commitments

Pembroke Resources’ IES includes commitments in key areas such as participation, employment, procurement and community development.

Key participation commitments include a 5% target for Indigenous traineeships across all production and maintenance areas of the project in the operation phase of the project. 

Pembroke are also committed to developing an Indigenous Participation Policy, and Indigenous Employment Strategy, as well as an Indigenous Recruitment Strategy in partnership with the Barada Barna Aboriginal Corporation (BBAC), as well as work directly with BBAC to target Barada Barna candidates for employment opportunities and providing opportunities for Barada Barna run businesses to tender for procurement opportunities.

Overarching commitments include the development of a project specific Indigenous Committee to help facilitate transparent and continuous communication with both BBAC and directly with Barada Barna people.

Indigenous Engagement Strategy

Outcomes

As of July 2023,  key outcomes delivered from Pembroke Resources’ IES include developing a good relationship with the Barada Barna people. In conjunction with the Barada Barna Aboriginal Corporation (BBAC), Pembroke have undertaken multiple cultural heritage surveys on site, and have worked with BBAC in establishing the project’s Indigenous committee and are in developing project’s Indigenous Participation, Indigenous Employment and Indigenous Recruitment policies. 

Pembroke are also working with BBAC to provide further cultural heritage contracts on site, and to identify Barada Barna artists to commission art works, which will be featured in Pembroke’s offices in both Moranbah and Brisbane. 

Through contracting organisations working onsite at Olive Downs, it was reported in July 2023 that the project has achieved 4.9% Indigenous employment.