A division of the Liberal Party of Australia
TWO MAJOR PLAYERS ANNOUNCE A SUITE OF NEW COAL PROJECTS FOLLOWING THE DEFEAT OF THE CPRS
22 December, 2009
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West Australian mining company Hancock Prospecting and the second largest steelmaker in Japan, JFE Steel Corporation, have both announced huge investments in the Queensland Coal industry following the defeat of the Rudd Government’s, great big new tax on everything, the Carbon Pollution Reduction Scheme (CPRS).
Opposition Spokesman on Northern and Remote Australia, Senator Ian Macdonald said that it was no surprise that huge investment was coming to northern Queensland after the Coalition had defeated the industry destroying CPRS.
“The announcement that Hancock Prospecting will spend $100m on a feasibility study into the construction of a 500km, multi-billion dollar, coal railway from the Galilee Basin to export facilities at Abbott Point, is great news for everyone in Northern and Central Queensland.” Senator Macdonald said.
“The two new coal mines that would be serviced by the new railway would generate $450m in royalties every year and would train and employ thousands of Queenslanders over their 30 years of operation.
“The $100m feasibility study is just the tip of the iceberg - the announcement by Hancock Prospecting could potentially be worth tens of billions of dollars to the northern economy over the next few decades.
“The other company to make an announcement following the defeat of the CPRS was JFE Steel Corporation, Japan’s second largest steelmaker.
“JFE Steel will be investing $560m in the Byerwen Coal Project, potentially resulting in a new mine being established in the Bowen Basin, employing up to 500 Queenslanders and producing 10 million tonnes of coking coal annually.
“None of this would have happened if Mr Rudd had had his way and slapped a huge uncompetitive tax on the Queensland coal industry.
“Anna Bligh and Queensland Labor need to recognise the value of the coal industry to Queensland and use whatever sway they have with Kevin Rudd to convince him to knock his CPRS on the head once and for all.” Senator Macdonald concluded.
END
22 December 2009
Media contact Gordon Terry (07) 4771 3066 or 0427 960 255