Much-delayed Wallarah 2 coal project to proceed
It has been a week of big news for coal projects in Australia with another long-gestating mine, Wallarah 2 in New South Wales, gaining a mining lease only days after construction of the much-delayed and -debated Carmichael mine, in Queensland, got under way.
The New South Wales Minerals Council on Friday welcomed the granting of the mining lease for Wallarah 2, which is 82.2%-owned and -managed by coal miner Kores Australia.
“This is a very positive sign that the recently re-elected New South Wales government is serious about backing regional jobs and investment during the term of this Parliament,” New South Wales Minerals Council CEO Stephen Galilee said.
Wallarah 2 had been one of the most scrutinised mining projects in the state’s history, subjected to repeated assessment over what Galilee said was a “ridiculous 16-year period”.
The project had also been used as a political football in successive state elections.
However, despite all of this, the Galillee commended the government for granting the project a mining lease so that it could proceed.
According to the New South Wales Minerals Council, the project will be a boost to the central coast region, supporting more than 1 000 direct and indirect jobs during construction, 300 direct jobs in the mining operation for 28 years, and another 500 indirect jobs in retail, building, transport and other sectors.
Over the life of the project, Wallarah 2 is forecast to drive over $600-million in economic turnover into the regional economy and hundreds of millions in royalties and taxes to the state government to help fund hospitals, roads and schools.
In the neighbouring state of Queensland, Indian miner Adani’s Carmichael mine received its final environmental approval last week and construction started this week. The project had also been delayed for several years.
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