Glencore has welcomed the Queensland Government’s grant of Mining Leases for its Wandoan Coal Project in the Surat Basin and will be reviewing the detail shortly.
Glencore applied for these leases in 2007. The project’s Environmental Impact Statement was approved by the Coordinator-General in November 2010 and received environmental approval from the Commonwealth Government in March 2011. Glencore have been transparent with governments and the community since 2013, when the project was placed on hold, that we will continue to assess the project’s timing against the global coal market.
Glencore is taking a responsible approach and will only bring on new large scale production volumes if it is confident that market conditions support such a development. Adding significant new tonnes to the market at this time could adversely impact the profitability of existing thermal coal production, potentially putting jobs at risk as the market adjusts downwards as a result of oversupply.
The Wandoan Coal Project will require a multi-billion dollar capital investment for both the mine and related rail infrastructure.
Glencore maintain an open and regular engagement with the Wandoan community and provide updates of any developments or changes directly.
Glencore have contributed more than US$2 million in the local community and support projects in the areas of health, capacity building, education and environment.
Read the article online at: https://www.worldcoal.com/mining/11082017/glencore-provides-an-update-on-wandoan-coal-project/