GVK and Rinehart continue push for massive Galilee coal mine

The GVK-Hancock Prospecting Alpha Coal project is scheduled to be up and running in 2016, GVK has said.

“We are ramping up our concurrent activities in order to meet the market demands for our coal in the latter half of 2016,” the Indian conglomerate GVK’s statement read.

The project involves a $10 billion integrated mine, rail and port project with two coal mines in the Galilee Basin, a 495 km standard gauge railway line and a port at Abbot Point, and aims to ship 32 million tonnes of coal per year.

It predicts the State Development Area approval for the railway in the last quarter of 2013, and all material construction, operation and off-take contracts to be executed in the second half of 2016.

“We think it's realistic," GVK Resources’s managing director of coal and infrastructure, Paul Mulder, told AAP.

"For a project of this size and scale, we're doing this at record pace."
The project’s delivery has been delayed by a year, but GVK denies this is due to a failure to lock in financial backing.

"A couple of months ago we were forecasting March to June 2013 and now we're forecasting September 2013," Mulder told the ABC.
 

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.