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Print[Ferro-Alloys.com] The Australian reported that Shandong Energy Group has unveiled plans for a new coal mine development in Queensland, in a sign that one of China's largest coal producers remains keen on Australia despite concerns about the pricing outlook.
According to a filing on the Australian Government's chief environmental website, Chinese state owned Shandong may start construction of its Hillalong coal project in Queensland's Bowen Basin in either 2014 or 2015, with mining possibly starting in 2016
The filing was made by Perth based Rocklands Richfield, which Shandong acquired last month for AUD 206 million.
Hillalong is expected to produce up to 1.8 million tonnes a year of high volatile coking and thermal coal. Initially, coal would be produced from an open-cut mine. But operations could switch to underground mining if a feasibility study proved favourable, leading to an overall mine life of 20 years, it added.
Shandong, which says it's the fifth-largest coal producer in China, acquired several other assets in Queensland as part of the takeover, including the Rocklands and Richfield projects.
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