Yarwun scores significant project status
The $2.2bn Yarwun Coal Terminal at Gladstone has been declared a significant project by the Queensland state government. It is set to become the town's third coal port.
The declaration triggers assessment of the project by the Queensland Coordinator General, with its Environmental Impact Statement due for release on May 28.
Yarwun’s 134ha site will sit next to the existing RG Tanna and the planned Wiggins Island terminals. Developer 3TL expects construction of Yarwun’s 50mtpa Stage 1 to begin in 2014, with commissioning expected by 2018.
Additional rail infrastructure will be required to service Yarwun, including a 14km line from Mt Larcom to the proposed Mt Miller balloon loop. 3TL will also build infrastructure for a stockyard and shiploaders.
The Yarwun declaration follows last week’s announcement from the state government that development of Abbot Point will be scaled back from six additional terminals to two, delivering a reduced capacity of around 240mtpa instead of 400mtpa.
Six individual shareholders own 80% of 3TL and Surat basin coal prospector MetroCoal owns 20%.