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June 12, 2020

Glencore’s $1.5bn coal mine in Queensland granted special status

The Government of Queensland has recognised commodities trader and miner Glencore’s proposed $1.5bn Valeria coal mine as a coordinated project.

The Government of Queensland has recognised commodities trader and miner Glencore’s proposed $1.5bn Valeria coal mine as a coordinated project.

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The Valeria coal project is located near Capella town on the Central Highlands region in Queensland.

Once operational, the project is expected to support over 1,400 construction jobs and 950 full-time operational jobs over its mine life of 35 years.

Queensland Resources Council (QRC) chief executive Ian Macfarlane said: “The announcement today means the Valeria project will start the comprehensive assessment process as a coordinated project through the Office of the Coordinator-General”.

“It is projects like these that create thousands of jobs and billions of dollars in investment, exports and royalties.”

Glencore said the move by the Queensland government is a major milestone for the company as it moves the Valeria project through its approval processes.

Glencore Australia Coal Assets chief operating officer Ian Cribb said: “Our Australian coal operations will continue to produce the high quality coal required to meet expected levels of global steel production and energy demand in Asia.

“In Queensland, coal continues to be an important driver of the economy as a source of jobs, royalties, reliable energy and support for local businesses both in the city and the bush.”

In March 2018, Glencore signed an agreement to acquire Rio Tinto’s 82% interest in the Hail Creek coal mine and 71.2% interest in the Valeria coal resource in central Queensland for $1.7bn in cash.

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Free Report
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Dig deeper with our mining equipment forecasts

As ore mines ramp up and come on stream, the total number of active surface machines (including trucks, excavators, shovels, loaders, graders and dozers) is forecast to rise from 141,470 in 2020 to 167,367 by 2025. This will be a CAGR of 3.4% from 2020 to 2025. The largest contributor to this growth is expected to be trucks, particularly smaller-sized trucks with shorter lifespans, used extensively in parts of Asia Pacific. Underground mining equipment is similarly expected to see a CAGR of 2.3% in this same time frame, with the number of mining trucks and loaders/LHDs in active underground mines expected to rise to 19,853 by 2025. GlobalData’s extensive mine-site research and equipment models have been used to build a complete view of mobile mining equipment populations globally for trucks, loaders, graders, dozers, excavators and shovels. This report includes informative breakdowns by each major region and key mining country, and also by major commodity. Read GlobalData’s Global Surface and Underground Mining Equipment: Populations & Forecast to 2025 for a complete view of the market, allowing you to best position yourself for the future.
by GlobalData
Enter your details here to receive your free Report.

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