Government okay for $7 billion mega-mine

A NEW $7 billion mega-mine in central Queensland’s Galilee Basin that will create thousands of jobs and billions of dollars in royalties has been given the green light by the state’s co-ordinator-general.

The Courier-Mail reported that MacMines Austasia’s 20,000ha China stone thermal coal project is bigger than Adani’s scaled back plans for the first phase of its Carmichael mine.

China stone is tipped to produce 38 million tonnes of coal annually at peak to supply power stations in China and other parts of Asia.

The project will create almost 4000 jobs during construction and almost 3400 jobs when the mine is operational.

It is situated beside Adani’s project and is expected to loop into the Indian conglomerate’s planned railway line.

The Commonwealth now has to sign off on the decision, with the project needing to secure finance after that.

Read the full story