Pembroke Resources Explained

Pembroke Resources
Industry:Coal Mining
Founded:2014
Founder:Barry Tudor

Pembroke Resources is an Australian coal mining company.

History

Pembroke Resources was established in April 2014 by mining industry veteran Barry Tudor and ex-CEO of ASX listed Gloucester Coal Ltd.[1]

In May 2014 Denham Capital invested US$200 million into Pembroke Resources.[2]

In April 2016 the Company acquired the Olive Downs Project from Peabody Energy and CITIC Resources for A$120 million[3] in what will become one of Australia’s largest metallurgical coal mines.[4]   Pembroke Resources unveiled plans to invest $1 billion in the mine while employing up to 1,000 people.[5] [6]

In April 2018 Pembroke Resources acquired 41,500 hectares of land from Peabody Energy for around $50 million.[7]

In May, 2019 Pembroke Resources received approval from Queensland’s Coordinator-General.[8]

In September 2020 Pembroke Resources was awarded approval for the state’s third-largest coal mine with 1,000 jobs promised.[9]

In April 2024 Pembroke Resources opens Olive Downs Complex for steelmaking coal.[10]

References

  1. Web site: 2018-09-09 . The coal kings behind Queensland's next giant mine . 2024-06-05 . Australian Financial Review . en.
  2. Web site: Denham Capital Backs Pembroke Resources . 2024-06-05 . Denham Capital . en-US.
  3. Web site: 2024-04-01 . Bankers on the scene at PE-owned Queensland coal mine Olive Downs . 2024-06-05 . Australian Financial Review . en.
  4. News: Australian firm taps coking coal rebound for new mine in 2017 . Reuters.
  5. Web site: Dorrell . Ashleigh . 2024-04-23 . $1b Olive Downs coal mine officially opens . 2024-06-05 . The Australian Mining Review . en-US.
  6. Web site: Creagh . Ben . 2017-02-08 . Pembroke Resources to build coal mine in Bowen Basin . 2024-06-30 . Australian Mining . en-AU.
  7. Web site: 2018-04-15 . Mining company Pembroke buys Queensland cattle stations for $50m . 2024-07-01 . Australian Financial Review . en.
  8. News: 2019-05-15 . Olive Downs mine may impact koala habitat the size of Sydney Harbour . 2024-07-01 . ABC News . en-AU.
  9. News: 2020-09-29 . Queensland Government approves state's third-largest coal mine . 2024-08-07 . ABC News . en-AU.
  10. Web site: Tibben . Kelsie . 2024-04-22 . Olive Downs officially opens . 2024-08-07 . Australian Mining . en-AU.

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