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The joint venture between Coalworks and Willala Pastoral Co will help get the coal company’s Oaklands mine off the ground.
The deal will give Coalworks access to approved locations on Willala land for the development of coal processing facilities, infrastructure and a clean coal processing plant.
The deal will see Coalworks pay an indexed royalty of $1 per tonne of coal sold or fed into a power station on the land.
Coalworks managing director Andrew Firek said the deal provided a platform for securing further land rights for the Oaklands coal project.
“The joint venture reflects the solid relations we are building with landowners in the Oaklands area,” Firek said.
“Willala is a long-term landholder and wheat producer in the Oaklands area and has grain trading and civil contracting expertise. Their local knowledge and commitment to the area will be of invaluable assistance to Coalworks.”
Coalworks will own 40% of the land portfolio and Willala will own the remaining 60%.
