News

Mine development ramps up

A Bureau of Resources Energy Economics (BREE) report chronicling major projects in the mining industry shines a particularly bright light on the Bowen and Galilee basins west of Mackay and Rockhampton.
A Bureau of Resources Energy Economics (BREE) report chronicling major projects in the mining industry shines a particularly bright light on the Bowen and Galilee basins west of Mackay and Rockhampton. Peter Holt

ANOTHER 29 mining projects worth up to $75 billion are ready to start in Queensland and a further 101 are treading a path to approval.

Of those, two represent the biggest new investment in coal mining anywhere in Australia, with the Grosvenor underground and Eagle Downs mine worth almost $3 billion in total.

The pair will move a combined total of 9.5 million tonnes of coking coal - used for steel-making - between them.

A Bureau of Resources Energy Economics (BREE) report chronicling major projects in the mining industry shines a particularly bright light on the Bowen and Galilee basins west of Mackay and Rockhampton.

It appears to show BHP Billiton Mitsubishi Alliance (BMA) is still the dominant power in the mining game, as it spent up to $4.4 billion on building its new Caval Ridge mine and expanding Peak Downs.

The development ranked as the most expensive coal mining project in Australia.

BREE resource manager Alan Copeland said Queensland had amassed 29% of all money funnelled into building resources projects nationwide.

"These are projects with all the approvals in place and the companies have made a public statement they will go ahead and build this project," Mr Copeland said.

"The overwhelming majority of projects in Queensland are around the coal industry, coal infrastructure and the three LNG projects under construction near Curtis Island, off Gladstone.

"It's a lot of capital expenditure, which requires employment.

"Whenever you have that, there are obviously flow-on effects."

For the 101 currently being considered for approval, Mr Copeland said it was not a reflection of investor jitters but a sign of industry patience.

"To put that in perspective, there are 29 under construction.

"To maintain that flow of employment, we would have to continue activity at that level.

"You would not want 100 more projects added to the current amount already under construction."

Topics:  bhp billiton mitsubishi alliance bureau of resources and energy economics mining


Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Overcrowded car no clowning matter to magistrate

DRINK DRIVING: The man was fined $1000 and had his licence suspended for 3 months.

$1000 fine for meatworker after birthday bungle.

Panthers come out on top in 9-a-side competition

BREAK THROUGH: The Panthers combinations came through on the night to win the competition.

Biloela exacts sweet revenge against Woorabinda.

Theodore Men's Shed group launches at old SES headquarters

HARD YAKKA: Theodore Men's Shed members work on a barbecue before the organisation's launch last Saturday.

Group aims to give purpose to retired and isolated men in Theodore.

Local Partners

MKR turns spiteful in suddendeath elimination

A MERE two points separated two teams from My Kitchen Rules, in a spiteful sudden-death cook-off.

Jilted Married At First Sight groom rejected again

Is Married at First Sight groom's second chance over already?

Sir Elton John coming to Mackay: What you need to know

Sir Elton will come to Mackay and Cairns in September.

Tickets to the concert go on sale on March 14

MAJOR ANNOUNCEMENT: Global superstar to rock Mackay in 2017

A major concert is set to rock Mackay this year.

Mackay, Cairns to host world's biggest superstars Sir Elton John

Robert Irwin introduces Jimmy Fallon to wild guests

Robert Irwin introduces Tonight Show host Jimmy Fallon to a cuddly sloth.

ROBERT Irwin continues Steve's legacy.

MOVIE REVIEW: Trespass Against Us a 'tender' crime film

Michael Fassbender and Brendan Gleeson in a scene from the movie Trespass Against Us.

Tough British film about criminal clan proves touching

Crocodile, hippo fears as I'm A Celeb filming hit by flooding

Flooding hits the set of I'm A Celebrity ... Get Me Out Of Here!

Fears crocodiles and hippos could infiltrate I'm A Celeb camp

Popular island resort sells to loaded international investor

OUR PICK: Chris Foey's colourful shot of one of Gladstone's great tourism hot spots, Heron Island.

International investor snaps up piece of Gladstone paradise.

Expert: Why renters, home buyers may struggle

Matusik Property Insights director Michael Matusik.

What's next for the city's housing market

Massive seaside development of 3200 lots

DESIRABLE LIFESTYLE: The masterplan for the proposed Elliott Heads Estate.

"There's nothing else left along the coastline of Queensland now"

Potential home buyers punished for doing the 'right thing'

Should I go to university or buy a house?

50 more high rise buildings planned for Brisbane CBD

Height limits have been scrapped for Brisbane CBD

800,000 more people expected to work in city over next 20 years

Ready to SELL your property?

Post Your Ad Here!