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Property News

$1.12b Queensland coal mining project closer to approval

July 10, 2012

Approval of a $1.12 billion coal mining project in north Queensland is one step closer after the government gave the green light for the preparation of an environmental impact statement (EIS).

Jeff Seeney, deputy premier and minister for state development, infrastructure and planning, announced yesterday (July 9) that Cockatoo Coal had been given approval to prepare an EIS for the north Surat-Taroom coal project south of Rockhampton - a key step in the approval process.

The project, which is expected to create thousands of jobs in the region, is likely to attract the interest of those looking to purchase rural property in the region.

Buying land near Rockhampton may become an attractive option for those wanting to capitalise on the potential employment opportunities, or for buyers interested in a lucrative property investment.

"With the potential to operate for up to 20 years and export eight million tonnes of thermal coal a year, there's no doubt it will provide major economic benefits to Queensland," Mr Seeney commented.

"I welcome the Queensland coordinator-general's approval of the final terms of reference for the EIS for the proposed coal project, which means we are one step closer to knowing if the project is fit to be approved."

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