Acquiring port capacity is an important milestone for Stanmore’s plan to utilise the terminal to export coal from its Range and Mackenzie projects by the expansion completion time of 2015.
Stanmore said securing Gladstone port capacity would also put the company in the running to be a customer of the planned Surat Basin Rail line which would connect to Gladstone.
The priority allocation rights were purchased from two WICET founding members who were each party to an original feasibility funding facility agreement.
Stanmore Coal managing director Nick Jorss said the acquisition of the Gladstone capacity demonstrated the company’s determination to be a multi-mine coal producer by 2015.
“Obtaining the feasibility funding facility agreement priority tonnage gives us much greater certainty that we will receive the port allocation we require to develop our key projects at The Range and Mackenzie,” Jorss said.
“It also reinforces our goal of being foundation customers on the Surat Basin Rail line when it comes online in 2015.”
WICET Stage 2 will be constructed to provide 50-60Mtpa of capacity over two phases, currently scheduled for completion in 2015 and 2016.
Also in the running for Gladstone port capacity is Endocoal which obtained port allocation at Gladstone after it secured 2Mtpa through a feasibility funding facility agreement.
The deal improves Endocoal’s chances of accessing the port at WICET stage 2.
The results of an independent assessment of the potential WICET Stage 2 producers and their projects are expected by the end of the year.