Walter Mining owner Walter Diversified Services managing director Garry Ash said the project would commence later this year.
Walter will use one of its AM105 roadheaders to excavate the 1100m long decline.
The project will be carried out under a relationship-style contract with Walter providing the labour, equipment and supervision with a bonus for early completion.
Walter said the project would provide a significant uplift in the group’s plant and equipment utilisation for the next financial year.
The contactor has commenced mobilisation of personnel and equipment for the project.
The Carborough Downs underground coal mine is owned by joint venture partners Vale (80%), Tata Steel, Nippon Steel and Posco (all 5%) and JFE Steel and JFE Shoji (2.5% each).
The $401 million mine, located 20km east of Moranbah in Queensland's Bowen Basin, is expected to start in the third quarter of 2009 aiming to produce 1.2 million tonnes from the longwall before ramping up to full production of more than 4Mt per annum in later years.
