Waratah Coals Alternative Infrastructure Solution Declared a Significant Projectadmin
Waratah Coal Inc. announce that the Queensland Government has declared the Galilee Coal Project (Northern Export Facility) a ‘Significant Project’ for which an Environmental Impact Statement (EIS) is required.
Waratah Coal President and CEO Peter Lynch today said, “This declaration reflects the effort and cooperation that has been achieved between Waratah Coal and the Queensland Government to progress an alternative infrastructure solution for the Galilee Coal Project.”
Waratah Coal’s Initial Advice Statement (IAS) to the Queensland Government describes the project involving 474km of heavy haul, dual gauge rail line from the Galilee Basin to the Abbot Point State Development Area (APSDA) (see Figure 1 below). The project involves the construction of a stockyard facility, linked to a new coal terminal incorporated as part of the Multi Cargo Facility (MCF) to be sited at the proposed expansion of the Port of Abbot Point.
Waratah Coal plans to open up the undeveloped thermal coal province in the Galilee Basin, near Alpha in Central Queensland. The proposed rail and port project will underpin the development of a large scale mine and be open to third party users. This will free up costly bottlenecks inhibiting Australia’s coal industry.
More than 4.3 Billion tonnes of Inferred Resources of thermal coal have been defined in Waratah Coal’s tenements.
Mr. Lynch said, “The Company was further encouraged by the announcement and consequent ‘Significant Project’ declaration of the Hancock Alpha Coal Project also located in the Galilee Basin.
“This project is also considering Abbot Point as a location for its coal export facilities and there would appear to be reasonable potential for development synergies,” he said.
The Galilee Basin is an untapped energy province that could provide the critical key for Queensland’s growth aspirations.
Waratah Coal (WCI) is dual listed on the Toronto Stock Exchange (TSX-V) and the Australian Securities Exchange (ASX).