Hancocks federal backing to boost port expansion
5th November, 2009
Oct 20, 2009 03:51 PMBy Rob McKay
Hancock, founded by mining mogul Lang Hancock 50 years ago, has been evaluating the two Queensland export options for its Alpha and Kevin’s Corner projects in the Galilee Basin region, west of the Bowen Basin.
“The projects would deliver considerable economic benefits to the national economy, create up to 5000 construction and 3000 ongoing jobs, and generate annual export earnings of around $6 billion,” Albanese said.
“They may also include the construction of common user rail and port facilities, with discussions ongoing between Hancock Prospecting and the Queensland Government.”
Mine construction was expected to start in early 2011, with the first shipment to Asia expected in 2013.
According to the miner, greenfield option Dudgeon Point, about 5 kilometres north-west of Hay Point, would offer similar conditions to those at the adjacent Dalrymple Bay and Hay Point coal terminals, and if selected, would require construction of all onshore and offshore infrastructure and wharves.
Access would be through designated road and rail access corridors established for the project.
As for the Abbot Point Multi Cargo Facility project, dredging would be required for the berth, swing basin and approach area.
An access channel was envisaged through the Dalrymple Bay Coal Terminal area while a new rail access corridor would be required down the Connors Range to Dudgeon Point.
Hancock has also gained a green light for its Roy Hill 1 iron ore project 270 kilometres south of Port Hedland.
This was expected to cost $5-$7 million and require the building of a 300 kilometre rail line to Port Hedland and new berths at Port Hedland’s Inner Harbour.
Estimated annual export earnings were put at about $5 billion, with mine construction to start in early 2011 and production in 2013.
Source: Lloyd’s List Daily Commercial News – www.lloydslistdcn.com.au