After over 6 years of comprehensive environmental assessments and detailed planning GVK Hancock has now been granted an Environmental Authority for its Alpha Coal Project in the Galilee Basin in Central Queensland.
The grant of our Environmental Authority is recognition of the extensive environmental scientific rigour that went into the environmental assessment of our proposed Alpha mine, which included around 300 collaborative scientific studies, involving over 500 specialist consultants.
This is one of the most significant milestones in the development of our Galilee Basin coal projects to date, which will create one of the most significant pieces of regional and economic developments Queensland has seen for decades.
This milestone takes us one step closer commencing our proposed Alpha mine, which will create around 4,000 jobs during its three year construction and more than 1,800 jobs over its 30 plus years of operation.
We’ve invested tens of millions of dollars and thousands of man hours assessing, planning and engaging with communities to reach this point.
The scientific rigour that has gone into the environmental assessment of our Alpha Coal Project has received approval from the State and Federal governments and we plan to meet every environmental condition that has been set by regulatory authorities.
This milestone brings us one step closer to bringing online a new low cost, low ash, low sulphur, high quality thermal coal basin, offering the ability to lower emissions from global coal fired power generation.
The volume and magnitude our Alpha coal project’s large, shallow and very flat coal seams allow for large scale mining techniques that ensures our proposed mine remains cost competitive even in current tough market conditions.
The combination of large scale mining techniques, the favourable geology and other techniques, deliver a free-on-board price that ensures our proposed Alpha mine remains relatively immune to cyclical coal prices.
Now that we have our Environmental Authority for our Alpha Coal Project our key focus is to continue advancing the project to a point where construction can commence.
Once we finalise the infrastructure joint venture with Aurizon and the regulatory bodies have addressed litigious challenges to approvals, we will execute coal off-take agreements before finalising all financing arrangements.
The proposed Alpha mine has a JORC compliant resource of 1.8 billion tonnes, with 1.2 billion tonnes of reserves and will be a full open cut mine producing around 32 million tonnes per annum for 30 years.