New Hope Group’s $900 million New Acland coal mine expansion in Queensland has finally been given Federal approval and is one step closer to construction – a decade after the proposal was submitted.
Once the expansion project receives all State-based approvals – including the mining lease, environmental authority and associated water license – New Hope Group plans to increase the mine’s annual production of thermal coal to approximately 7.5 million tonnes.
“It’s positive news for the local community as it provides optimism for the continuity of operations at New Acland and the increased economic activity associated with the construction of the project.
“This announcement takes the project’s approvals one step closer to the end. However, the project still requires State Government approvals including, Mining Lease, Environmental Authority and Associated Water License to be granted before the New Hope Board can consider a final investment decision,” said New Hope Group’s Managing Director Shane Stephen.
According to Mr Stephen, the New Acland mine expansion would be supporting up to 260 construction jobs as well as ongoing employment for up to 435 people directly and about 2,300 indirectly. The expansion will also inject up to $12 billion in economic benefits over the project’s lifespan until 2029.
Mr Stephen also stated that the approval announcement brought “some degree of comfort” to hundreds of local employees and contractors as well as thousands of others who depend on the mine.
“Our 300 direct local employees and 500 contractors have been anxiously awaiting Federal and State approval of this project for many years,” Mr Stephen said.
New Hope Group is still awaiting further approvals from the State before the company commences construction on the New Acland mine expansion project.
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Source: Australian Mining and Acland Project