Macmines Welcomes Selection By Queensland Government For Abbot Point Development

2011/12/1 12:28:08

MacMines Austasia was today selected as one of the preferred respondents of a 30Mt capacity coal export terminal at Abbott Point, together with Vale, Waratah, Rio Tinto, Anglo America, and the consortium group.

The privately owned company is owned by the Shanxi based Yao family. In 1981 the Yao family established one of the earliest private companies in China – the Meijin Energy Group. Today it employs over 14,000 people and is the largest private coke producer in China. The group has over 3 billion tonnes of coal reserves in 10 mines, extensive interests in steelmaking, coal gas and associated coal sources products. It enjoys AAA rating with the Chinese banking and investment community.

Mr Russ Phillips, CEO of MacMines, said today he noted the trust placed in the company by North Queensland Bulk Ports (NQBP) and the Queensland Government and looked forward to working toward to developing the coal export terminal to meet the demand for Queensland coal in China.

Despite being based in Beijing for the past 10 years, Mr Phillips is a 30 year veteran of the Australian coal industry with over 20 years operational experience in Queensland coal mines. He was appointed to co-ordinate the development of a 30Mtpa coal mine in the Galilee basin and associated rail and port infrastructure.

“On behalf of the Yao family and Meijin Energy let me congratulate NQBP and the Government on timely assessment of Expression of Interests and in recognizing the importance of the port facilities to underpin investment by MacMines in its ‘China Stone’ project in the Galilee Basin”, Mr. Phillips said.

“The company will co-operate with other successful industry parties to ensure the development of joint rail infrastructure to ensure MacMines meets the development timetable coal loading infrastructure”.

“Bringing together the resources of industry and government to invest in and develop the Galilee basin coal fields is a significant challenge and offers significant employment and skills development for Queensland and Australia and MacMines will be a co-operative partner in that process”, he said.

Mr. Phillips said the company was well advanced with its coal exploration programme and, now that the outcome of the EOI for Abbot Point is known, MacMines will expedite detailed project feasibility, including environmental approvals and engineering studies.

Mr. Phillips also highlighted the importance of Queensland in supplying coal for the Chinese Energy market well into the future, saying the expansion plan will further strengthen Queensland’s position as the leading coal exporter in the world market.

The expansion plan, known as T4-9 project, will add 6 new terminals to the Abbot Point Coal Terminal. Each terminal will cater for a nominal 30 million tonnes per annum (Mtpa) of coal exports, making this project one of the biggest of its type in the world. Different stockpiling ratios would allow proponents to increase export capacity to as high as 60 Mtpa. .

The T4-9 project will enable coal exports from the Port of Abbot Point grow to approximately 385 Mtpa, and is an essential part of the critical infrastructure required to accommodate coal exports from the Bowen Basin and Galilee Basin

MacMines Austasia established a coal exploration business in Australia in 1999. In 2006 it was granted an Exploration Coal Permit (EPC987) by the Qld Government and in 2007 the Yao family acquired a 100 % interest in MacMines.

For further information please contact Mr. Michael Li, Chief Representative of MacMines, on (61)-7-3221-4856

Macmines Austasia Pty Ltd was registered and established in Queensland, Australia in July 1999. Since its establishment, the company has been focusing on geological exploration and mining business in Queensland.
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