Despite its sale to a new owner, it will be months before Tahmoor colliery is back in operation and mine workers get their jobs back.
Gear M Consortium, which has experience investing and operating coal mines in Australia, is the buyer.
The company has signed a binding agreement with the liquidators of the Tahmoor coal mine.
The final sale agreement and transfer are pending multiple Australian and State Government approvals.
“I welcome the Gear M Consortium to Wollondilly and look forward to the timely restart of the mine operations, including re-hiring of former workers,’’ said the state member for Wollondilly Judy Hannan.
“There is at least another further six months until the transfer of ownership and a longer period until the mine restarts.
“The future of metallurgical coal mining in Wollondilly is strong.’’
The local federal MP (Hume) and Liberal leader Angus Taylor also welcomed the sale.
“This is good news for workers, their families and the wider Wollondilly community,’’ he said.
Mr Taylor said that after a long period of uncertainty, the sale of Tahmoor Colliery creates a clear path to get the mine back up and running and to get locals back into jobs as quickly as possible.
“Tahmoor Colliery is one of the biggest employers in my electorate and has been at the heart of our community for generations,’’ he said.
“Hundreds of local families have relied on the mine for their livelihoods, and countless small businesses have depended on the economic activity it supports.
“Behind every mining job is a family, a mortgage and a local business that depends on people having money in their pockets.
“While there is still work to do to ensure the mine’s long-term future, this is a positive step forward and a strong outcome for our community,’’ Mr Taylor said.
