It is reported that China biggest private coke producer is planning a multibillion dollar thermal coalmine in Queensland frontier Galilee Basin that would rival the giant mines planned there by Mr Clive Palmer, Ms Gina Rinehart, India Adani and Brazilian giant Vale.
Meijin Energy owned by Chinese billionaire has been quietly drilling coal tenements it acquired in 2007, 230 kilometers southwest of Charters Towers.
Last week, Meijin operating here as Macmines AustAsia outlined its first coal resource at what it is calling the China Stone project. Studies show it has a resource of 3.7 billion tonnes of thermal coal.
A company official said Meijin had plans to add to the resource as it aimed to build a mining operation that would export between 30 million and 60 million tonnes a year of coal from 2014 or 2015. That would dwarf Australia biggest operating black coal mines, BHP Billiton Blackwater and Goonyella which produce about 14 million tonnes of coal a year each.
But it is the typical size of eight thermal coal mines now being planned in the Galilee which remains undeveloped largely because it is further from export ports than Queensland's more-established Surat and Bowen basins.
The planned Galilee Basin operations none of which have been given formal approval have development price tags of USD 3 billion-plus even before taking into account the railways and port expansions that will be needed to handle an extraordinarily ambitious total of 200 million tonnes a year of coal.
To put that in perspective, Australia the world second-biggest coal exporter now exports about 140 million tonnes of thermal coal. (sourced TheAustralian)
Meijin Energy owned by Chinese billionaire has been quietly drilling coal tenements it acquired in 2007, 230 kilometers southwest of Charters Towers.
Last week, Meijin operating here as Macmines AustAsia outlined its first coal resource at what it is calling the China Stone project. Studies show it has a resource of 3.7 billion tonnes of thermal coal.
A company official said Meijin had plans to add to the resource as it aimed to build a mining operation that would export between 30 million and 60 million tonnes a year of coal from 2014 or 2015. That would dwarf Australia biggest operating black coal mines, BHP Billiton Blackwater and Goonyella which produce about 14 million tonnes of coal a year each.
But it is the typical size of eight thermal coal mines now being planned in the Galilee which remains undeveloped largely because it is further from export ports than Queensland's more-established Surat and Bowen basins.
The planned Galilee Basin operations none of which have been given formal approval have development price tags of USD 3 billion-plus even before taking into account the railways and port expansions that will be needed to handle an extraordinarily ambitious total of 200 million tonnes a year of coal.
To put that in perspective, Australia the world second-biggest coal exporter now exports about 140 million tonnes of thermal coal. (sourced TheAustralian)
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