QR National will haul up to 5.1 million tonnes per annum from the Jellinbah East coal mine in Central Queensland to the Port of Gladstone from 1 July 2010.

QR National also transports 3.25Mtpa from the company’s Lake Vermont coal mine to the Dalrymple Bay Coal Terminal near Mackay and the port of Gladstone.

Tonnages may increase to 6Mtpa when the Northern Missing Link rail line is built.

Chief executive and managing director Lance Hockridge said the 10-year coal contract with Jellinbah Resources highlighted the growth prospects of the national transport and logistics company.

“QR National is already Australia's largest transport company with an incredibly sound platform for future growth,” he said.

“The Jellinbah contract demonstrates the strength and customer focus of our coal haulage business in what is clearly a highly competitive market.

“QR National Coal remains a market leader in Queensland and will have secured 30% of the NSW Hunter Valley market by 2011/12 when new long-term contracts come on line.”

Yesterday marks the completion of one of the biggest demergers in Australian corporate history and a major milestone with the public float of QR National later this year.

The Bligh government is still marching on with its plans to float Queensland Rail National despite a $A4.85 billion coal industry bid for the state’s coal track network.

The initial public offering of QRN is expected late this year.

The state government seems open to the offer made by the Queensland Coal Industry Rail Group in late May, but Treasurer Andrew Fraser at the time noted it would be better if the government could sell the tracks and trains together.

Transport Minister Rachel Norton said specific information was being sought from the coal industry consortium on its bid, according to Dow Jones Newswires.

The government announced plans to publicly float its coal chain assets last year, as part of a series of public asset sales to reduce debt by up to $15 billion and win back its AAA credit rating.

QRN’s coal chain assets are expected to reach a potential market cap of up to $7 billion.

QCIRG consists of Anglo American Metallurgical Coal, BHP Billiton, BHP Billiton Mitsubishi Alliance, Ensham Resources, Yancoal Australia, Jellinbah Resources, Macarthur Coal, Peabody Energy, QCoal, Rio Tinto Coal Australia, Vale, Wesfarmers Resources and Xstrata Coal.

Aquila Resources and New Hope are expected to hop on board at a later stage.