Another 21 years for Myuna

CENTENNIAL Coal is seeking New South Wales state government approval to continue mining up to 2 million tonnes per annum of raw coal for 21 years from its Myuna bord and pillar mine 25 kilometres southwest of Newcastle.
Another 21 years for Myuna Another 21 years for Myuna Another 21 years for Myuna Another 21 years for Myuna Another 21 years for Myuna

Centennial Coal's Myuna continuous miner operation, NSW

Blair Price

Centennial aims to continue mining the Wallarah, Great Northern and Fassifern coal seams using the colliery’s existing infrastructure to deliver coal to the Eraring Power Station, and also seeks approval to rehabilitate the mine site.

The Department of Planning has issued the Director-General Requirements to Centennial for its upcoming environmental assessment application.

Two weeks ago Thai energy giant Banpu launched a $A2 billion takeover offer for Centennial at $6.20 per share, 40% above the closing price of the previous trading day.

The deal was the first struck since the resources super-profits tax proposal was binned and replaced by the more palatable Minerals Resource Rent Tax.

Centennial’s board approved the takeover while managing director Bob Cameron expects a good cultural fit between the two companies.

“Banpu has confirmed to us that it is their intention to maintain the current operations and the employees,” he said after the takeover was launched.

“So I don’t expect any material change in the day-to-day operations of our mine. Frankly it is, and will continue to be, business as per usual.”

Banpu recently received Bank of Thailand approval to use foreign currency for the takeover transaction.

Centennial shares were unchanged at $5.91 yesterday.