China-based coke producer Meijin Energy has unveiled plans to build a thermal coal mine in Queensland, Australia, at an estimated cost of A$3bn (US$3.2bn).
Meijin said it found a coal resource of 3.7 billion tons of thermal coal at the tenements in Galilee Basin, The Australian reports.
The mining operation is expected to export between 30 million and 60 million tons of coal a year from 2014 or 2015.
The project would take into account the railway and port expansions that would be needed to build the thermal coal mine.
Meijin operates in Australia under the name Macmines.