Next cab off rank?
GVK Hancock in state of “preparedness” following Adani decision.
Wednesday 07 June 2017
Adani’s final investment decision this week might be just the beginning, with Mayor of the Central Highlands Regional Council Kerry Hayes confirming they have had recent talks with GVK Hancock over the development of their Galilee coal mine.
GVK is an Indian company, which has a 79 percent stake in the Alpha Coal and Alpha West projects, and a 100 percent stake in the Kevin’s Corner project south of Adani in the Galilee basin near Alpha.
These projects have total resources of 8 billion tonnes and theoretical peak mine production of 80 million tonnes a year, which - if built - would even eclipse the monumental coal exports planned by Adani at Carmichael.
“Oh yes we have,” Cr Hayes told ABC radio
“GVK are obviously well advanced and well prepared to take the opportunity of accessing that rail line.
“Similar to the Pilbara in Western Australia, when the first major project kicks off, and there is a sharing arrangement on the rail line, it provides the catalyst for those other mines.
“GVK have certainly indicated that they are in a state of preparedness.
“They have been very patient, and given some commitments to our Council and the Barcaldine Regional Council, and a very very clear intention in the future around Alpha and Emerald.”
The most recent development for GVK Hancock was when they successfully defended attempts by the “Coast and Country Alliance” to argue in the high court, that global warming should have been considered before environmental approvals were given by the Queensland Government for their mine.
Another project that could be unlocked by the Adani decision is the South Galilee Coal Project (SGCP) - one of Queensland’s lesser known mega mine proposals near Alpha. In late 2015 it received federal environmental approval for a mine that if built, would produce around 17 million tonnes of thermal coal a year and generate thousands of jobs in construction and production.
AMCI is privately owned by two highly secretive billionaires Hans J. Mende, and Fritz R. Kundrun, and the now defunct Bandanna Energy.
Previously they have said their project is contingent on Adani going ahead.
Baralaba Coal also has the South Pentland Project in the north-eastern portion of the Galilee Basin. This project has a 445 million tonne JORC Inferred Resource.Lastly, the Clive Palmer controlled Waratah Coal was granted a Christmas present in 2014 when it received federal environmental approval for its proposed $6.4 billion coal mine near Alpha.