Count on resource boom, but not all its benefits

Source: Australian

THE scope of the coalmine and associated infrastructure project envisaged by Indian company GVK Power is a whole lot bigger than was proposed by Hancock Coal, but not all the benefits are going to flow to Australia.

Hancock had planned three mines in the Galilee Basin area of central Queensland, plus a 500km rail line to the coal port of Abbot Point, while the company had been allocated capacity at the expanded Abbot Point that would allow the export of 60 million tonnes of coal a year.

But GVK revealed during the week they were planning to dig up and export somewhere between 80-85 million tonnes of coal during the year, and as such, they would need more port capacity.

So the company has applied for extra capacity at Abbot Point in the next round of allocations to be declared later year by the Queensland government. But GVK is only one of many companies that have applied for the extra capacity.

Read More: Count on resource boom, but not all its benefits

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