Whitehaven Coal`s Maules Creek Project, in the Gunnedah Basin of NSW, approved last October, has received a boost with project funding increased from $800 million to $1.2 billion, underwritten by four of Australia`s major banks.
Resource analysts said the successful financing shows that even in a constrained environment, quality mining projects would still find capital.
In the construction phase presently, production is expected to come online in the middle of 2013, with a mine life of 30 years+, producing 10.8 million tonnes of thermal and low-grade coking coal a year over that period.
One of Australia`s largest coal deposits, this open-cut mine will export coal from the mine through the Port of Newcastle.
Whitehaven will be looking to fill around 1500 mining jobs in the next five years, which will service their seven major coal mining projects, mainly in the Gunnedah Basin and Narribri areas.
Current and future mining jobs can be reviewed by following this link:
Maules Creek Mining Jobs (NSW)