Friday, 21 December 2012

Chinese company is planning a $5 billion coal project for Central Queensland








A MULTI-NATIONAL Chinese company is planning a $5 billion coal project for Central Queensland which will dwarf some of the region's biggest mines.

The MacMines China Stone project will mine up to 60 million tonnes of coal per year, 45 million of which will be exported.

Those are figures comparable to the enormous coal mines being developed by GVK Hancock and Adani.

When China Stone hits peak production, it will export four-times more coal than Central Queensland's largest mine at the moment - Goonyella Riverside near Moranbah. 
LINK for CHINA STONE
Link QLD govt proposal 

The project site is located entirely within the southern block of Exploration Permit for Coal (EPC) 987 (Figure 6). The northern boundary of the Carmichael Coal Project Mining Lease Application area is located approximately 3 km to the south of the project site (Figure 2).


The project site comprises approximately 20,000 ha of well vegetated land, with low-lying scrub in the south and east and a densely vegetated ridgeline, known as ‘Darkies Range’, running north to south through the western portion of the site.
A workforce accommodation village and private airstrip for the transport of mine employees are proposed to be located in the south-eastern part of the project site (Figure 3).












It is also of the same scale as GVK Hancock and Adani's multi-billion-dollar mines which will soon demand thousands of workers.
Like those two Indian energy giants, MacMines comes with a powerful pedigree.
It is entirely owned by the Chinese Meijin Group - a firm with more than 14,000 on its payroll and an annual revenue topping $1.25 billion.
Meijin has interests in coal mining, iron, steel production, energy, real estate and even ceramics.
China Stone will need to build a rail line, like its Galilee competitors, to link its mine to a coastal loading terminal, likely Abbot Point.
MacMines must now wait for the Queensland Government to finalise the terms for a future environmental impact statement before it can continue its path towards approval and construction.
This is to be completed by the end of April.
MacMines staff were unavailable to speak to APN before deadline on Wednesday.

Latest Comments

Showing 6 of 6 comments

  • Muggins from Pacific Paradise 3 hours ago
    If an Australian company, dared to think of a mine that size,along with the infrastructure and rail connections . It would have to jump through many hoops in it's way. But China buying in and selling to China is a good thing?? Will they pay the mining Tax??Will they cover their trains and stockpiles in plastic?? Will they have to fill in the hole and make good. All these questions and more in........
    Reply
  • Whateverman from Mackay North 3 hours ago
    This is exactly what Mr. Rabbitt predicted would happen in mining when the carbon tax come in. Oops !! Another case of foot in mouth disease.
    Reply
  • OurHappyRock from Barney Point 3 hours ago
    Queensland is nothing but a lot of holes in the ground for foreigners to plunder and profit from. Whats the bet the Queensland population will soon resemble Fiji or Singapore. What on earth did our diggers ever fight and die for?
    Reply
  • boofhead from Mount Larcom 2 hours ago with 1 reply
    Was our Government elected by the people of Australia or is our stinking Government appointed by the Comrades in charge and sole membership of this "Govt" seems to be foreign Governments and huge foreign owned companies who are only interested in raping the whole country for their own benefit. They get an open go to do as they wish with our country.
    All that Australia will get out of it is a totally ruined country when all of the wealth has been shipped out to foreign beneficiaries.
    Let us not forget that there are no private companies in China. They are all Chinese Government owned and if we wanted to go to china and do the same as they are being allowed to do to us, we would not be permitted to do so at all.
    Why does the State and Federal Governments not listen to the people who elected them and stop the greedy giveaway of our natural assets and environmental areas?
    We do not have a Government we have a dictatorship that is being run along the lines of the old Communist Empire with many of our elected members in Parliament still beholden to the Communist regime.
    Elected Members are there at the Will Of The People, not the other way round and are required under the Australian Constitution to administer the Will Of The People, not the will of Political Parties or Union puppet masters.
    I have written proof from the Federal Govt that Political Parties are not recognised or mentioned in the Constitution of Australia.
    Reply
  • jimnew2009 from Clinton an hour ago
    But if it was an American or British company that would be OK? It's a business investment - up to regulators to actively ensure that all comply with regulatory requirements. It would be nice to see a higher proportion of Australian owned companies but today we live in a free market environment. Consider what our employment profile would be if overseas investments hadn't been allowed in Australia. Global economy people - swings and roundabouts ... that the reality. Don't hear anyone raising issues of Australian investments in PNG, Timor, Indonesia etc. ... wonder how the locals feel about that - especially where there is less regulatory scrutiny.
    Reply