Investment agreement delivers new housing for Bowen Basin
Published on 28 February 2024
A legally binding housing agreement between a young coal mining company and a central Queensland council hopes to inspire industry players to follow suit.
Vitrinite signed the housing contribution agreement with Isaac Regional Council in a bid to futureproof communities reducing impacts on Isaac’s local rental and housing market. The agreement establishes a housing committee to hold the company to their commitment and work together on identifying projects that increase housing stock in the Bowen Basin.
Mayor Anne Baker said she hoped the latest move by Vitrinite will inspire many other companies to follow suit.
“This housing agreement is a great example of a mining company walking the walk on social licence by putting pen to paper to demonstrate their commitment to their workers and to the people of the Isaac region,” Mayor Baker said.
“Vitrinite have taken a positive step, and our council is eager to work with them on ensuring their commitments deliver strong social outcomes for the Isaac region’s future.
“Whether it’s a coal, renewable energy or gas project, if a proponent wants to operate in our region, they have to give meaningful commitments to the communities that support them.”
Vitrinite co-founder and managing director Nicholas Williams said the company, which runs Vulcan mine between Moranbah and Dysart, is serious about investing socially and economically in the Isaac region.
“Having grown up around mining sites, it’s only natural to support the communities through social investment,” Mr Williams said.
“It is important for Vitrinite to enter into the housing agreement to show the local communities we are serious about our commitments and our relationship with the local council.
“Vitrinite employees have been housed in accommodation in both Dysart and Moranbah, to minimise camp usage.”
The economic pain 10 years ago saw a four-bedroom, two-bathroom property house in Moranbah hit $3200 a week due to the acceleration of the mining industry. Currently, the median rent for a house in the Isaac region’s biggest towns of Moranbah, Clermont and Dysart are $600, $377 and $360 a week respectively.