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Friday, 26 December 2014

Central Qld Coal: Mining for Needed Investments

The Central Qld Coal Project is situated in the Galilee Coal Basin, Central Queensland with the purpose of establishing a mine to service international export markets for thermal coal. An estimated cost to such a project would be around $ 7.5 billion - the amount proves that the mining industry is one serious business to begin with.

In addition to the mine, the Central Qld Coal Project also proposes to construct a railway, potentially in excess of 400km depending on the final option: Either to transport processed coal to an expanded facility at Abbot Point or new export terminal to be established at Dudgeon Point. However, this would require new major water and power supply infrastructure to service the mine and port - hence, the extremely high cost. Because mining areas usually involve desolate areas where there is no direct risk to developed regions where the populace thrives, setting up new major water and power supplies would simply demand costs as high as the estimated cost - but this is not the only major percent of the whole budget of the Central Qld Coal Project.

The location for the Central Qld Coal Project is situated 40km northwest of Alpha, approximately 450 km west of Rockhampton and contains an amount of more than three billion tons. The proposed open-cut mine of the Central Qld Coal Project is expected to be developed in stages. It shall have an initial export capacity of 30 million tons per annum with a mine life expectancy of 30 years.

In terms of employment regarding Central Qld Coal Project, there will be around a total of 2,500 people to be employed during the construction and 1,600 permanent positions shall be employed in the operation stage of the Central Qld Coal Project.

Australia is a major coal exporter - the largest exporter of coal and fourth largest producer of coal. Australia is also the second largest producer of gold, second only to China. As for Opal, Australia is responsible for 95% of its production, thereby making her the largest producer worldwide. Australia would not also lose in terms of commercially viable diamond deposits - being third next after Russia and Botswana. This pretty much explains the significance of the mining industry to Australia. It is like the backbone of its economy; an industry focused on claiming the blessings the earth has giver her lands. The Central Qld Coal Project was made to further the exports and improve the trade. However, the Central Qld Coal Project requires quite a large sum for its project. It is only through the financial support of investments, both local and international, can it achieve its goals and begin reaping the fruits of the land.

Source: http://ezinearticles.com/?Central-Qld-Coal:-Mining-for-Needed-Investments&id=6314576

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