BHP in $2bn Coal Mine
"A $2-billion coal mining exploration project in north-eastern New South Wales could generate up 1000 new jobs, Premier Morris Iemma said today. Mr Iemma said the Government had granted mining giant BHP Billiton a five-year licence to carry out detailed exploration of the Caroona coal area. The area has an estimated 500 million tonnes of untapped coal resources. "The commodities boom is delivering significant economic growth to Western Australia and Queensland; I am pleased NSW is in a position to share in the economic benefits of high demand for Australian commodities," Mr Iemma said.
"Large tonnages of coal from Caroona could also deliver a major boost to our export revenue given the continuing demand for coal, particularly from Asian markets". Source: ABC Radio news (17/2/2006)
"Chris Burgess, manager of Whitehaven Coal Mining, reckons the Kamilaroi Highway, which branches off from the New England Highway just north of the Hunter at Willow Tree and heads north-west over the Liverpool Plains, will become the state's next great coal road.
Other companies have plans to establish mines in the the area and in August 2005 the State Government called for expressions of interest for exploration of the Caroona coal area near Quirindi, where there are deposits of 500 million tonnes.
The chief executive of the NSW Minerals Council, Dr Nikki Williams, says the basin has 40 per cent of the state's estimated coal reserves and "in the next 10 years it is going to be very significant". If all the projects planned for the basin go ahead they will employ about 500 people directly and generate another 3000 jobs, half in the local community, she says". Source: (SMH, November 2005)
"In February 2006 the Minister for Mineral Resources announced BHP Billiton as the successful tender for the Caroona Coal Area, located near Quirindi. The Caroona deposit contains more than 500 Mt of potentially mineable underground coal. Subject to successful exploration and feasibility studies, the Company may in the future proceed with the approvals and assessment process for a large underground coal mine". Source: (NSW Department of Primary Industries)
"The Australian Rail Track Corporation (ARTC) has approved plans to spend $1billion by 2012 to improve the coal rail lines bewteen Gunnedah & Newcastle". (Newcastle Herald 30/11/2007)
Several large mining companies have signalled they are prepared to explore for coal in a new area of the Liverpool Plains in north-west New South Wales. The State Government is calling for expressions of interest from miners to explore the Watermark area next to the Caroona Coal deposits that are already under scrutiny by BHP Billiton. Several companies have approached the Government hoping to access the one billion tonnes of coal that lie near the surface, to depths of 500 metres. It will take three years to fully explore the 190 square kilometres covered by the Watermark deposits, and another four years before production could begin. Expressions will close in February 2008. (ABC News Nov 7, 2007)
* Investors Note: Quirindi is located approximately 30 km east of Caroona, being the closest service centre to the proposed coal field (Keith Bell & Son First National)
