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The first part of the mine expansion will enable Cockatoo Coal to expand metallurgical coal production from about 700,000tpa year to about a 1Mtpa. The company is planning for this figure to climb to 3.5Mtpa by 2015.
The expansion will create 200 new jobs for the Central Queensland region over the next two years.
Cockatoo Coal CEO Andrew Lawson said the coal from the mine’s expansion would be exported initially to Japan and Korea.
“This coal will be exported through the Wiggins Island Coal Export Terminal in Gladstone, bound for Japan and Korea for steel-making purposes, with future opportunities in China, Taiwan and India,” Lawson said.
“Baralaba has a long history as a mining town and about half of our company people come from Baralaba and the surrounding district, so I see this growth as a real positive for the community.”
Deputy Premier Jeff Seeney said Cockatoo Coal’s $313 million investment demonstrated Queensland’s coal industry has a prosperous, competitive future.
“Queensland coal is rightly regarded as among the world’s best and Cockatoo Coal’s expansion of its operations demonstrates the company’s confidence for the future,” he said.
“The government is pleased to have played an active role in the project’s development through providing case management support and having declared it a prescribed project.
“This enabled the streamlining of the complex approvals process involving local, state and federal governments.
“Cockatoo Coal has also benefitted from green-tape reduction measures announced last year.”
Seeney said the company was a good corporate citizen, and its investment in the town of Baralaba and the wider Central Queensland region had improved the region’s infrastructure.
“Cockatoo Coal financially supported the building of the new Dawson River Bridge and it has also partnered in our government’s Royalties for the Regions program to help upgrade the Baralaba water treatment plant,” he said.
“Noble Group, one of Cockatoo Coal’s largest shareholders, has also committed $375,000 for community funding over the next three years.”
