Millennium mine is owned by a 50-50 joint venture of M Resources and Stanmore Resources called MetRes.
Following the acquisition of Millennium in mid-July this year, MetRes is investing $464 million to restart and operate the mine, which had been under care and maintenance for 17 months.
In late September, Millennium produced first coal, with shipments of premium coking coal to commence before the end of the year.
Forecast production will rise to more than 1.2 million tonnes each year from July 2022.
MetRes chairman Matt Latimore said with the mine opening the local community would be supported once more.
"Through existing infrastructure and a substantial resource remaining, we know that Millennium has more to give, and we are pleased to see the mine again generating jobs and opportunity for the region and economy," he said.
"Millennium Mine is heading into fortunate times with high prices and a world hungry for metallurgical coal resources.
"Millennium will make high quality coal for steel making available to our trading partners which will support a global green energy transition.
"Every wind turbine, solar panel, energy transmission upgrade, every single hydrogen pipeline and storage tank requires steel. As the world invests in a low emissions future, there will only be more demand for Queensland's premium coking coal.
"With the continued support of the Queensland government and our partners, we are looking forward to being part of the green energy transformation."
Latimore said he was particularly pleased to have an emphasis on local employment, with about 75% of the Millennium Mine operating workforce coming from Central Queensland.
"Our partners and contractors share our values of making a positive difference in the
communities where we operate," he said.
"We are focused on safety, economic growth, sustainability and maximising employment from around Moranbah and Central Queensland."