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Major coal mine clears environmental hurdle –
Capital Wealth
Major Coal Mine Clears Environmental Hurdle – Capital
Wealth
www.capitalwealth.net.au
OverviewOver 6185 million tonnes (Mt) of hard coal is currently produced worldwide and 1042 Mt of brown coal/lignite. The largest coal producing countries are not confined to one region - the top five hard coal producers are China, the USA, India, Australia and South Africa.
Much of global coal production is used in the country in which it was produced; only around 15% of hard coal production is destined for the international coal market.
Some Important Points Minister for Environment Greg Hunt gave the Carmichael Coal Mine and Rail project the green light, marking a significant milestone in the development phase.
Deputy Premier and Minister for State Development, Infrastructure and Planning Jeff Seeney says the mine will be a major boost to the economy, should it go ahead.
The project proposes a combination of open-cut and underground coal mining and is forecast to produce 60 million tonnes of thermal coal a year for export, Seeney says.
It is expected to generate over $500 million annually in direct and indirect benefits to Queensland’s economy during construction and almost $3 billion at full export capacity.
Adani chairman Gautam Adani says it highlights Australia’s endorsement of foreign investment.
Adani’s commitment to contribute towards providing energy security to India and other Asian countries goes hand in hand with its commitment to providing sustainable employment opportunities for local workers and suppliers
Not just through our rail infrastructure, but also our longer-term investments in ports and mining.
Development of the Galilee Basin is vital for the regional and economic growth of both Queensland and Australia, and Adani’s projects play an important role in realising this growth.
