Exploration and coal mine development company Waratah Coal Pty Ltd (Waratah Coal) is pleased to announce they have been advised that Mining Lease 70489 development plan has been approved by the Department of Natural Resources and Mines on 5 June 2015.
Mining Lease 70489 is part of the Alpha North Coal Project (“Alpha North”). This is a significant milestone for Waratah Coal’s Galilee Basin projects, which significantly de-risked the Galilee Basin and moves the Alpha North project another step closer towards production.
The Alpha North Project includes a thermal coal mine located north of Waratah Coal’s other Galilee project the Galilee Coal Project, Northern Export Facility (“Galilee Coal”). The complex will include four underground mines, two surface mines and associated coal handling and processing facilities. The project will initially commence operations with a 10 Mtpa open cut mine, eventually ramping up to 56 Mtpa several years later.
The mine will utilise the standard gauge, heavy haul railway line and port facilities being developed by Galilee Coal, which link Alpha North to coal terminals at Abbot Point near Bowen.
The project is estimated to generate $4.6 billion per annum in export revenues and increase Queensland government and federal government revenues by $343 million per annum and $709 million per annum respectively.
Waratah Coal is part of the Mineralogy Group and the company is 100 per cent owned by Mineralogy Pty Ltd.