Major coal investment for central Queensland
8 May 2017
Statement by QRC Deputy Chief Executive Judy Bertram
The Queensland Government has approved the mining leases for QCoal’s Byerwen coal mine, near Glenden.
This announcement is a huge shot in the arm for the central Queensland economy with hundreds of jobs expected to be created during construction and once the mine is operational.
This is a big dose of export growth for Queensland’s premium coking coal, which is why Japan’s JFE Steel is investing in the project. This mine will also be a significant economic contributor to local communities and the wider Queensland economy.
QRC’s current data shows that in 2015-16, the state’s coal industry’s total contribution of $32.7 billion, supported more than 180,000 jobs. The coal industry spent $11.3 billion in Queensland on more than 10,700 local businesses and almost 500 community organisations.
At last week’s spot prices of $224 US, at full production, this project alone would generate more than $450 million dollars extra a year in royalties for the Queensland Government that pays for nurses, doctors and teachers as well as important infrastructure.
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