Approval of “Initial development plan” for Mining Lease 70454

Exploration and coal mine development company Waratah Coal Pty Ltd (Waratah Coal) is pleased to announce they have been advised that Mining Lease 70454 development plan has been approved by the Department of Natural Resources and Mines on 5 June 2015.

Mining Lease 70454 is part of the Galilee Coal Project, Northern Export Facility (“Galilee Coal Project”). This is a significant milestone for the Galilee Coal Project, which significantly de-risked the project as it moves closer towards production.

The Galilee Coal Project includes a thermal coal mine near Alpha, west of Emerald. The complex will include four underground mines, two surface mines and associated coal handling and processing facilities. The mine will be linked to coal terminals at Abbot Point near Bowen by a new 471km standard gauge, heavy haul railway line.

The Galilee Coal Project was granted ‘significant project’ status by the Coordinator-General of Queensland in November, 2008. Subsequently Waratah Coal commenced work on an Environmental Impact Statement which received approval to commence construction by Queensland’s Coordinator General in August 2013 and the Commonwealth Government in December 2013.

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.

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