Coal port vital to new mines decision
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A coal mining company says a new coal port at Gladstone, in central Queensland, will be vital in its decision whether to proceed with two new mines the state.
Northern Energy Corporation is planning new coal mines in the Surat and Bowen basins.
The company has announced a $6 million share placement to raise money to participate in a study into the Wiggins Island coal port which is being considered at Gladstone.
Managing director Keith Barker says adequate infrastructure is vital if the mines are to proceed.
"We're dependent on the Wiggins Island study and work on the Surat Basin rail and upgrade of the Blackwater-Gladstone rail system," he said.
"It's really a matter of when those criteria, as well as our own geological and mining studies all come together, then we can make a decision. The expectation is it will be some time in mid-2009."
