Major Coal Investment for central Queensland

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.

Source: QRC

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