{ Galilee is GO }
29.05.12
We all awake to another significant announcement in the future of Queensland Resources this morning to see that the Campbell government has officially given the green light to the first Galilee Basin coal project, via the GVK / Hancock Coal JV – Alpha Coal.
The worlds richest woman, Gina Reinhart, and India’s G.V Krishna Reddy have scured approval on a mine expected to achieve sales of $83.6 billion at a project value of $10b and generating over 4000 jobs.
The key bone of contention is the “jobs” and in particular where the workforce will come from particularly in the initial construction phase. Overseas workers are already being mentioned to provide the significant gap in people resources expected. In a market where Australia is regarded as the benchmark in resource production, whilst being universally derided for delivering the most expensive production cost, this move is a significant shot in the arm for the industry.
For the full article click on the courier mail link attached:
