In a significant development, the Land Court of
Queensland in Australia has granted conditional clearance to $10 billion
Alpha Coal Mine project being developed by the GVK Group there. “GVK
Hancock welcomes the recommendations from the Land Court that the
Environmental Authority (clearance) and Mining Lease for our Alpha coal
project be granted subject to conditions.
“We fully
understand the significant benefits our projects will bring to the
region and will continue to work with the environmental regulators in
relation to these recommendations,” GVK said in a statement.
In
2011, GVK had acquired 79 per cent stake in the Alpha Coal and Alpha
West projects and 100 per cent stake in the Kevin’s Corner project in
Queensland from Hancock Prospecting Pty Ltd. GVK’s Alpha Coal Mine is
located in the Galilee Basin with the first coal expected to be
extracted by 2016. When fully commissioned, the mine will produce 32
million tonnes of thermal coal per year for the Asian export market.
In
August 2012, the Australian government gave ‘green’ signal to Alpha
Coal project comprising operation of Coal Mine and a railway line
between the mine and the port at Abbot Point, near Bowen.
“With
this, everything is clear for the project to take off. The Queensland
Government will have to issue us the mining lease for Alpha Coal
project,” a GVK official told PTI.
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