$1Bn Olive Downs given the green light

On the eve of the State Election in Queensland, the State Government has granted approval for the development of the Pembroke Resources Olive Downs Coking Coal Project in Central Queensland. The project is located South-East of Moranbah in the Bowen Basin. The project is expected to generate up to 500 jobs during construction and will distribute its product through Dalrymple Bay Terminal to key markets in Japan, China, India and South Korea.

The Government were keen in the announcement to highlight the broader Mackay/Whitsunday Regional Recovery Action Plan which includes:

• $10 million to deliver priority environment projects in the state’s Great Barrier Reef catchments in partnership with local government (up to 200 nature-based jobs)
• $10 million for the Great Barrier Reef Arena (Harrup Park) redevelopment
• TAFE upgrades – establish student-industry collaborative learning centres Bowen TAFE ($200,000) and Cannonvale TAFE ($250,000)
• $5.5 million supporting Mackay-Whitsunday small businesses – 618 grants of up to $10 000
• $11 million Mackay-Whitsunday councils – 34 maintenance and minor infrastructure projects (supporting 249 jobs)
• $9.4 million to social housing in Mackay-Whitsunday
• $1 million Future Food BioHub
• $150 million Walkerston Bypass, following opening of the $497m Mackay Ring Road
• $42 million (20/21) of $120.4m Bruce Highway (Mackay – Proserpine)
• $10 million Bowen Development Road (Collinsville – Belyando Crossing)
• $4 million (of $13m Proserpine Entertainment Centre)
• $2.9 million Bowen Neighbourhood Centre

Read the press release here.

And a statement from Pembroke Resources here.