Yancoal Australia, CHINA’S largest listed company in Australia, like BHP is forging ahead to seek approval for a new coal mine in NSW.
The $120 million mine thermal coal mine is seen as a low-cost investment and will create more NSW jobs in the Hunter Valley.
A new coal mine in NSW could create many new mining jobs
Yancoal has an intention to develop a new open-pit mine at the Moolarben mining operation which is located close to Mudgee in central western NSW.
As well as the open-pit application, hopes of yet further mining jobs would be created came as Yancoal also sought approval to develop two new underground operations which would more than double its present annual coal output from eight million tonnes a year to 17 million tonnes.
“a good project that was cheap to run”
Yancoal chief executive Reinhold Schmidt said Moolarben was a good project that was cheap to run and the new project is a much bigger issue than just expanding Moolarben, as it is a strategic coal resource. Although this new coal mine is outside the Hunter Valley, it is an important part of the mining mix in New South Wales. The creation of more NSW jobs in the mining industry would bring a lot of benefits to the region.
Yancoal has a majority ownership by Chinese giant Yanzhou Coal, must continue expansion plans through because of the relaxed Foreign Investment Review Board rules that had ordered Yanzhou Coal to reduce its stake in the Australian-listed operation.
The new plans for the mining project are currently being reviewed by the NSW Planning and Assessment Commission, prior to a recommendation to the NSW Department of Planning and Infrastructure.
While Yancoal is keen to increase its supply of thermal coal into the global market, continued strong opposition in some parts of the community continue to plaque the expansion plans.
Despite the opposition to the mine going ahead, people who have their sights set on a mining career in NSW would be advised to keep tabs on the future developments.
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