Waratah Coal Will Continue To Pursue Abbot Point Terminal Plans
21 5월 2012 - 3:33PM
Dow Jones News
Waratah Coal, an Australian explorer and developer controlled by
billionaire Clive Palmer, said Monday it will continue to pursue
plans to develop a stand-alone jetty and coal stockyard terminal
within the Abbot Point state development area in Queensland
state.
The company confirmed it will push ahead with its plans after
the state government Saturday withdrew its support for a A$9
billion expansion of the coal port, which would have grown the port
to nine separate terminals with an overall capacity of 385 million
metric tons.
"The government's scaled back approach will now provide an extra
two new wharfs at Abbot Point for future Galilee and Bowen basin
coal producers, for which Waratah will seek interim capacity," it
said in a statement.
Other so-called preferred respondents selected to build
terminals at the site included Anglo American PLC (AAL.LN), Rio
Tinto PLC (RIO), Vale S.A. (VALE), a consortium of Peabody Energy
Corp. (BTU), New Hope Corp. (NHC.AU) and Carabella Resources Ltd.
(CLR.AU), and a local subsidiary of China's Meijin Energy Group,
MacMines AustAsia.
Anglo-Australian mining company Rio Tinto, however, recently
said it would withdraw from the project.
-By Rhiannon Hoyle, Dow Jones Newswires; 61-2-8272-4625;
rhiannon.hoyle@dowjones.com
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