January 20, 2017
The controversial New Acland Stage 3 coal mine is one step closer following Federal approval announced on Friday.
The $900 million mine was approved by Federal Environment Minister Josh Frydenberg under the Environment Protection and Biodiversity Conservation Act.
However, as New Hope noted in a statement to the ASX, the project still requires State Government approvals including an Environmental Authority, Mining Lease and a Water Licence.
These have to be granted “before the New Hope Board can consider a final investment decision”.
New Hope Group expects the Environmental Authority and Mining Lease to be granted in April.
The mine expansion is expected to extend the life of the mine until 2029.
New Hope says up to 260 jobs will be created during the construction phase, ongoing employment of up to 435 people directly and 2300 indirectly, and a total economic benefit of $12 billion over the life of the project.
Deputy Opposition Leader Deb Frecklington said the LNP welcomed Mr Frydenberg’s decision.
“Workers, their families and the local community are one step closer to a more certain future,” Mrs Frecklington said.
“The Palaszczuk Labor Government now needs to listen to locals and issue the Mining Lease, the Environmental Authority and the Water Licence for this important project.
“Labor has been dragging its feet on the New Acland Stage 3 project including imposing a new, duplicative approval process.
“With hundreds of jobs at stake, the future of many Queensland families is dependent on this project proceeding.”