A new coal mine to be built in Central Queensland is expected to create more than 400 jobs when construction starts next year.
Carabella Resources major open-cut Grosvenor West development project, west of Moranbah , is expected to make a final decision about the $500 million investment late next year, The Observer reported.
Once underway, Carabella expects to export up to 3.8 million tonnes of coal.
The company is yet to finalise its power, water, rail and port services but it is believed it will want to access part of the planned Abbot Point coal terminal expansion.
An environmental impact study will now be comprised for the Queensland Government and is due by October 2014 but the company says it hopes to have all approvals finished by then and for construction to be underway.
In the company’s 2012 annual report, chairman Andrew Amer said that the company was looking at ways to reduce that capital cost of the new mine.
“The project proposes the use of bucket wheel excavator systems and truck/ excavator units. This configuration along with contractor mining resulted in a significant reduction in the capital required for the project and competitive operating costs,” he said.
Managing director Anthony Quinn said the location of the mine held many advantages.
“They key attractions of Grosvenor West are its high quality coking coal, attractive geology and strategic location within one of the world’s best coking coal basins”