360° Coverage : India's GVK gets approval for largest Australian coal mine

7 Updates
India's GVK gets approval for largest Australian coal mine
Photo Credit: , Getty Images

India's GVK gets approval for largest Australian coal mine

Nov 3 2013, 10:24pm CST | by IANS

Melbourne, Nov 4 (IANS) Australia's federal government has given a mega Diwali gift to India's GVK group by approving the gigantic coal mining project in Queensland state in the country's northeast.

Melbourne, Nov 4 — Australia's federal government has given a mega Diwali gift to India's GVK group by approving the gigantic coal mining project in Queensland state in the country's northeast....

Filed under: news

YouTube Videos

 
 
 

43 weeks ago

India's GVK gets approval for largest Australian coal mine

Nov 3 2013, 10:24pm CST | by IANS

Melbourne, Nov 4 (IANS) Australia's federal government has given a mega Diwali gift to India's GVK group by approving the gigantic coal mining project in Queensland state in the country's northeast.

Melbourne, Nov 4 — Australia's federal government has given a mega Diwali gift to India's GVK group by approving the gigantic coal mining project in Queensland state in the country's northeast.

Environment Minister Greg Hunt approved the 37,380 hectare Kevin's Corner project Friday.

"We commend the Federal Government on its thorough environmental assessment process and its decision to approve this significant project that will create immense employment opportunities," GVK Reddy, founder chairman and managing director of the Indian conglomerate, said in a media release.

GVK had acquired, according to a company media release, a 100 percent stake in the Kevin's Corner project in Queensland - Australia's second largest state - from Hancock Prospecting Pty. Ltd. and a 79 percent stake in the Alpha Coal and Alpha West Coal projects.

When combined, the Galilee Basin projects will create one of the largest coal mining operations in the world holding total resources of 8 billion tonne and a peak capacity of around 80 million tonne every year.

"This approval comes as a major milestone towards our goal of becoming the premier and most reliable coal supplier to the world thus enabling better lives.

"It further strengthens our commitment to deliver world-class infrastructure projects in a timely and responsible manner," said Dr Reddy said.

Queensland Resources Council acting chief executive Greg Lane has also welcomed the approval of the largest coal mining project in Australia and has stated that GVK owned project would "improve living standards for millions of people in India" besides opening up "one of world's most exciting new coal provinces.

"GVK is to be congratulated for its commitment to this project in the toughest operating environment that the Queensland coal industry has faced this century," Greg Lane said about a project which is estimated to generate 1800 construction jobs and 1600 operational jobs.

The A$4.2 billion project would rely on the railway infrastructure to be constructed by the Alpha Coal project to transport coal to the Port of Abbot Point in Bowen.

However, various Australian environmentalist organisations have slammed the federal government's approval to GVK-Hancock mega coal mining project. Kevin's Corner will use, Greenpeace has reportedly alleged, more than nine billion litres of water a year. Another environmentalist group, Lock the Gate Alliance, has urged for more information on the impact of the proposed coal mine on Galilee Basin groundwater.

Australia is witnessing a raging debate over the mining and coal seam gas extraction and their perceived impact on aquifers, rivers and water catchments. Various water science experts have asked the Australian government to not give approvals to any mining proposals that would "adversely impact water supplies".

Incidentally, GVK's Kevin's Corner mining project is the first to be approved since the introduction of a new water trigger rule introduced by the Greens supported previous federal government.

It is expected that construction on the GVK-Hancock coal mine would commence in 2015 and the production is likely to start three years after that.

(Paritosh Parasher can be contacted at paritoshparasher@yahoo.com )

IANS

Source: IANS

 
Update
7

4 days ago

NHPC jumps; hydro power in focus after coal ruling

Aug 28 2014 1:22am CDT | Source: Reuters India

Reuters Market Eye - NHPC shares jump 6 percent. Traders say the focus could shift to hydro power as an alternative to coal in e ...
Source: Reuters India   Full article at: Reuters India
 

 
Update
6

1 week ago

JSPL cracks nearly 14% as SC rules against coal allocations

Aug 25 2014 6:40am CDT | Source: Business Standard

Anulling 20 years of coal block allocations makes this a historic judgement, analysts say. Metal index cracks over 4%Metal stocks lost ground on Monday with stocks of Jindal Steel and Power and Hindalco slipping ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
5

2 weeks ago

Govt may opt for UMPP bidding route for coal mine auction

Aug 12 2014 12:30am CDT | Source: Business Standard

A move that may attract more private investments and bring in greater transparency in the coal sector, the government is likely to auction mines through international competitive bidding route curren ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
4

3 weeks ago

China to Build 50 Coal Gasification Facilities

Aug 6 2014 9:15pm CDT | Source: Canada Free Press

China plans to build 50 coal gasification plants in less populated northwestern parts of the country, using the gas produced to generate electricity in the more populated areas, where smog is prevalent. Two coal gasification pilot plants have been built, three more are under construction, and 16 have been approved for construction, while the rest are in various planning stages. Eighty percent of the 50 plants are to be located in northwest China, in the ...
Source: Canada Free Press   Full article at: Canada Free Press
 

 
Update
3

4 weeks ago

ICVL buys Rio Tinto's coal assets in Mozambique for $50 mn

Jul 30 2014 7:38am CDT | Source: Business Standard

The Mozambique acquisition by ICVL can provide long-term coking coal security as Indian steel companies need higher input of raw material to fuel their ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
1

5 weeks ago

Charlotte gives Duke ‘counterproposal’ on coal ash at airport

Jul 21 2014 4:54pm CDT | Source: NCB-WCNC Charlotte

Charlotte City staff have given Duke Energy a “counter proposal” for using coal ash from the Riverbend Steam Station as fill dirt at the Charlotte Douglas Airport, but they won’t release details while Duke mulls over t ...
Source: NCB-WCNC Charlotte  Full article at: NCB-WCNC Charlotte
 

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

Now, 'electronic nose' to detect diarrhoea
London, Sep 1 (IANS) In what could lead to faster diagnosis of diarrhoea and stomach cramps, researchers have developed an "electronic nose" that can sniff the highly infectious bacteria that causes these diseases.
 
 
Japan has committed $35-bn investment in India: Modi
Tokyo, Sep 1 (IANS) Prime Minister Narendra Modi Monday signalled a new era of ties with Japan and welcomed the commitment made by his host and Japanese counterpart Shinzo Abe to invest $35 billion in India over the next five years.
 
 
New blood test to reliably detect TB
London, Sep 1 (IANS) A new blood test has been developed to provide a fast and accurate tool to diagnose tuberculosis in children.
 
 
Japan announces 3.5 trillion yen investment to India
Tokyo, Sep 1 (IANS) Japan Monday announced public-private investment of 3.5 trillion yen (Rs.2.03 trillion) in India.
 
 
 

Latest from the Network

Double podium for Reddy in Formula Renault
Snetterton (England), Sep 1 (IANS) Young Indian driver Tarun Reddy achieved his best racing weekend with a double podium finish in the UK Formula Renault Championship by finishing second, third and fourth here. The 16...
Read more on Sport Balla
 
IS committing crimes against humanity in Iraq: UN
Geneva, Sep 1 (IANS/EFE) Violence carried out by militants of the Islamic State (IS) Sunni extremist organisation in Iraq, including murders, executions, abduction, sexual violence and torture, amount to crimes against...
Read more on Politics Balla
 
Iran vows to free Al-Aqsa mosque from Israel
Tehran, Sep 1 (IANS) Iran's President Hassan Rouhani Monday vowed to liberate the Al-Aqsa mosque in the old city of Jerusalem from the Israeli forces and spare no efforts to help the Palestinian people, state-owned...
Read more on Politics Balla
 
200,000 Indians granted Saudi visas in one month
Riyadh, Sep 1 (IANS) More than 200,000 Indians, mostly domestic helpers and labourers, were granted visas by Saudi authorities in one month, an official said Monday. "Since we resumed bringing in Indian workers at the...
Read more on Politics Balla
 
Number of SAARC regional centres to be slashed
Kathmandu, Sep 1 (IANS) SAARC member states have agreed to bring down the number of the association's regional centres from 11 to five in order to end the duplication of work and to reduce expenditure. A meeting of...
Read more on Politics Balla
 
Now, 'electronic nose' to detect diarrhoea
London, Sep 1 (IANS) In what could lead to faster diagnosis of diarrhoea and stomach cramps, researchers have developed an "electronic nose" that can sniff the highly infectious bacteria that causes these diseases....
Read more on Business Balla
 
Japan has committed $35-bn investment in India: Modi
Tokyo, Sep 1 (IANS) Prime Minister Narendra Modi Monday signalled a new era of ties with Japan and welcomed the commitment made by his host and Japanese counterpart Shinzo Abe to invest $35 billion in India over the...
Read more on Politics Balla
 
Indian in UAE unable to pay bills, hospital says go home
Abu Dhabi, Sep 1 (IANS) An uninsured Indian man has run up more than $160,000 in medical bills after he suffered a brain haemorrhage and spent about six months in an Abu Dhabi hospital, a media report said. The...
Read more on Politics Balla
 
Abe wants 'special strategic' ties with India
Tokyo, Sep 1 (IANS) Japanese Prime Minister Shinzo Abe Monday said ties with India should be elevated to a "special strategic partnership". "We have to fundamentally improve our ties in every field to elevate our...
Read more on Politics Balla
 
New blood test to reliably detect TB
London, Sep 1 (IANS) A new blood test has been developed to provide a fast and accurate tool to diagnose tuberculosis in children. About one million children develop tuberculosis (TB) globally each year but detecting...
Read more on Business Balla