Vote of confidence in coal future

Today’s commitment of more than half a billion dollars to the expansion of the export coal industry in central Queensland has been commended by the Queensland Resources Council (QRC).

QRC Chief Executive Michael Roche said the addition of up to 8 million tonnes per annum of coking coal production and the expansion of privately-owned port facilities to accommodate increased exports were a substantial vote of confidence in the industry and the Queensland economy.

‘BHP-Billiton Mitsubishi Alliance (BMA) is Queensland and Australia’s leading producer of quality coking coal for the global steelmaking sector,” Mr Roche said.

‘On the day that the coal industry’s outstanding export contribution has been recognised by the federal government, this level of new investment by Australia’s biggest coal miner confirms growing confidence in global economy’s recovery and the future of coal.

‘It also adds weight to forecasts that coal mining will be among the industries requiring an additional 23,000 new employees by 2020,’ Mr Roche said.

The expenditure program announced today will support the accelerated development of the Caval Ridge mine, additional exports from the Peak Downs mine and expansion of the Hay Point Coal Terminal, south of Mackay.

All operations are owned by the BHP Billiton Mitsubishi Alliance (BMA), a 50:50 joint venture between BHP Billiton and Mitsubishi Development Corporation.

Media contact: Jim Devine 3295 9560