Former Excel managing director Tony Haggarty has resigned as chairman and from the board of NCIG.

Peabody Energy has taken over control of Excel’s interest in NCIG and Peabody Energy Australia Coal managing director Ian Craig has been appointed to the board as its representative.

Tony Galligan, representing Whitehaven Coal Mining on the NCIG board, has been elected as the new chairman of NCIG.

Galligan welcomed Craig to the board and announced that the board of NCIG has appointed ANZ Investment Bank to advise on the structure of finance for the project.

Progress with detailed engineering for the coal loader is well advanced and NCIG is seeking approval from the New South Wales Government to build and operate a 66 million tonnes per year capacity coal export terminal on Kooragang Island in the Port of Newcastle.

The capacity of the first stage of the terminal is expected to be 33Mtpa.

Partners in the project include Hunter Valley Energy Coal, Centennial Coal, Donaldson Coal, Peabody Energy Australia Coal, Felix Resources and Whitehaven Coal.

The proposed coal terminal is classified as a Major Project and will be determined by the Minister for Planning.