1 August 2017
MEDIA STATEMENT
Following a comprehensive assessment program GVK Hancock has been granted an Environmental Authority for its Kevin’s Corner coal mine in the Galilee Basin in Central Queensland.
The receipt of the Environmental Authority is recognition of the scientific rigour that went into the environmental assessment of our project. It included many collaborative studies involving hundreds of specialists and consultants, and is approved by State and Federal governments.
The Kevin’s Corner coal mine can produce low ash, low sulphur, high-quality thermal coal, bringing lower emissions to coal fired power generation and providing affordable and efficient electricity to millions of citizens around the world.
The combination of favourable geology and large scale mining techniques will ensure our mine is cost competitive in tough market conditions, and relatively immune to cyclical coal prices.
The mine will create 1,800 direct construction jobs and 1,600 operational jobs and provide indirect employment for many thousands more. The combined Alpha and Kevin’s Corner coal mines will contribute $40 billion in taxes and royalties to Australians over their operating lives.
We understand the development of the Galilee Basin represents one of the most significant pieces of regional and economic development the Queensland has seen for decades.
We will continue working cooperatively with Governments, the local community and all other stakeholders as we progress our projects to a point where construction can commence, at which time we will execute coal off-take agreements before finalising financing arrangements.
The Kevin’s Corner coal mine is supported by a JORC compliant resource of 4.2 billion tonnes and can produce 30 million tonnes of high quality thermal coal at full production each year for the global coal markets.