Wiggins Island update

Cockatoo Coal has announced that a number of important steps have been achieved to advance the development of its core projects and associated infrastructure.

Cockatoo Coal has announced that a number of important steps have been achieved to advance the development of its core projects and associated infrastructure.

In conjunction with a number of other coal industry participants, Cockatoo Coal has executed agreements and supporting documentation to underwrite the cost of a full feasibility study and detailed engineering design by Gladstone Ports Corporations for the planned Wiggins Island Coal Export Terminal.

At full capacity the terminal is expected to deliver an estimated coal export capacity of 90 million tonnes per annum. Gladstone Ports Corporation plans to construct and commission the initial stages of the terminal by mid-2012.

Cockatoo Coal and other participating coal industry enterprises will underwrite the interest cost of funds advanced by Queensland Treasury to Gladstone Ports Corporation. This is presently estimated to total $140 million to complete the feasibility and engineering works.

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