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Queensland’s South Galilee open cut and underground coal project – which is also half owned by AMCI – is targeting up to 17 million tonnes per annum.
Macquarie Capital has been engaged to start a process focused on Bandanna, or its business, continuing as a going concern and maximising the outcome for all stakeholders, Bandanna said.
This process may include the restructuring or realisation of all or part of the company and its subsidiaries.
Macquarie is currently seeking expressions of interest from potential parties.
The Galilee Basin project won Queensland government approval in December with then Deputy Premier Jeff Seeney saying there was potential for up to 1600 jobs in the construction phase and 1300 for operations.
The conditional federal approval, which was signed off by the Department of Environment’s assessment and policy implementation branch assistant secretary Deb Callister last Wednesday, lasts up to June 30, 2055.
