Adani’s Galilee Basin Carmichael mine one step closer. POSCO sign Abbot Point construction agreement.
Adani Carmichael mine development update
Adani Mining Pty, a subsidiary of the† Indian based $9.2-billion Adani Group, said this week that it had signed a memorandum of understanding (MoU) with Korean company Posco E&C, a subsidiary of the South Korean steel giant, for the construction of a new coal terminal at Abbot Point port in Queensland.
The new terminal, Terminal Zero (T0), is to be† built at the port† which is situated close to Bowen,† as per the MoU between Adani and POSCO E&C.
Abbot Point Terminal Zero goes ahead
“Construction of†Terminal Zero is a vital step in ensuring that exports of high quality, cost-efficient coal from mines such as Carmichael in the Galilee can be landed in markets throughout Asia competitively and at scale,”Ě the company said.
The Abbot Point Terminal Zero when constructed will have a†capacity to ship-through 40 million†metric tonnes of high-quality coal per annum. Once the Carmichael mine is running at full capacity, there are estimations of some 60 to 70 million tonnes of coal passing through the terminal.
Despite a long and challenging process to develop the Galilee Basin mine, the Abbot Point project has always been at the forefront of Adani`s plans to build a long term future with Queensland.
Adani’s expansion of the port at Abbot Point could set the stage for the creation of 10,000 coal mining jobs in Queensland as well as providing incredible opportunities for small and medium sized businesses to flourish in the region.
Carmichael mine could create 10,000 Queensland mining jobs for 40 years
The development of the Adani Carmichael mine in the remote Galilee Basin in Queensland is slowly simmering away, despite many attempts to stop its development by environmental groups, banks and politicians.
However, now and again another piece of the puzzle falls into place and the picture starts to appear. This picture signals a new wave of prosperity for Queenslander’s who see mining production jobs as the key to†securing their†financial future.
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