Coal news and updates

MARKET conditions may stop the construction of controversial coal ports on the Queensland coast, with proposals at Port Alma and Mackay on hold because of falling coal prices.

 

The Australian reports that developers of Dudgeon Point near Mackay and Port Alma at the mouth of the Fitzroy River near Rockhampton say the ports will not go ahead under current conditions. 

 

Both projects are still seeking government approvals,  

 

Dudgeon Point is being developed by Indian coal giant Adani and the government-owned North Queensland Bulk Ports Corporation.

 

Industry sources told the newspaper the project was being put on hold for at least a year until the market recovered.

 

Port Alma is being developed by Brisbane company Mitchell Ports. 

 

Project manager Peter MacTaggart said the project wouldn't go ahead until there were sufficient customers signed up. 

 

"At the moment our customers are telling us that their priority is cutting costs rather than expanding, and we won't be going ahead until there's the demand for it," he said.  

 

Source: www.gladstoneobserver.com.au