Hancock Prospecting is pushing ahead with its plans for a $7.5 billion coal mine in central western Queensland, despite the global economic downturn.
Last year the miner commenced feasibility studies into the construction and operation of a 30 million tonne per year open cut thermal coal mine within Queensland’s Galilee Basin.
The project will also include the construction of a 400Km rail line to a port facility on the coast.
The mine is expected to create 2,500 jobs during construction and 1,600 permanent jobs during operation.
Barcaldine Mayor Rob Chandler said the economic downturn should not deter Hancock Prospecting but rather serve to make the project more attractive.
“Obviously Hancock mining has to sit down and have a look at it from their perspective,” he said.
“However, I believe this is the time to move forward to production stage where there are a lot of people looking for work and contractors out there that would probably be a lot cheaper now than they would have been mid last year.”