GVK receives federal environment clearance for Alpha Coal Project and Rail Line in Australia
29/08/2012
Excerpt from GVK Media Release 23 August 2012
GVK’s Alpha Coal Project Gains Federal Government approval under the Environment Protection and Biodiversity Conservation Act 1999 (EPBC)
GVK welcomes the Federal Government’s decision to grant environmental approval for the Alpha Mine and Rail Projects in Queensland.
Following a rigorous and thorough assessment process by two levels of government spanning four years, Federal Environment Minister Tony Burke gave an approval decision to construct and operate the Alpha Coal Mine and a railway line between the mine and the port at Abbot Point, near Bowen.
“We are delighted with the Federal Government decision. Ultimately we believe the overall assessment process has resulted in best practice environmental protection outcomes,” said GVK Chairman and Managing Director, Dr. GVK Reddy.
The Queensland Government had previously provided environmental clearance for the Alpha Coal Project in May, 2012.
GVK has acquired a 79% stake in the Alpha Coal and Alpha West projects and a 100% stake in the Kevin’s Corner project in Queensland from Hancock Prospecting Pty. Ltd. These projects hold total resources of 8 billion tonnes and a peak capacity of 80 million tonnes per annum.
When combined, these Projects will create one of the largest coal mining operations in the world. The Alpha Coal project has a mine life of 30+ years and a capacity of 32 mtpa which makes it suitable for high production open cut mining. GVK has also acquired a 100% stake in the 500 km rail line and a 60 million tonne per annum port as part of the “pit-to-port” logistics solution.
The Queensland Government has selected GVK’s Rail Corridor as the north-south corridor for connecting the Galilee Basin to the Port of Abbot Point. GVK’s coal mining project with its superior quality low ash, low sulphur and low gas thermal coal, will be reliably exported mainly to Asian destinations.
Construction is expected to start next year with first coal being produced in 2015/16.
Source: Hancock Coal, to read more visit
www.hancockcoal.com.au
Photo courtesy of New Hope Group