WHITEHAVEN Coal has officially opened its $760 million open-cut coal project at Maules Creek.
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Ian McFarlane, the federal Minister for Industry and Science, performed the official honours yesterday, despite the mine starting initial operations in December of last year.
Whitehaven chief executive officer Paul Flynn said yesterday it was “an important milestone” in the company’s growth.
“Over the past three years alone, Whitehaven has spent nearly half a billion dollars locally – and it’s the local community that will continue to reap the benefit of projects such as Maules Creek for decades to come,” Mr Flynn said.
Maules Creek began railing coal in December and has been operating commercially since July 1.
Mr Flynn said it would create nearly 500 new local jobs and inject an additional $68 million into the local economy annually.
He was also understandably upbeat about the future prospects of the mine in the face of recent concerns about the nation’s coal sector and the impact of low commodity prices and weak demand.
“The outlook for coal, particularly the type of high-quality, low-ash, low-sulphur coal we are producing at Maules Creek is very positive,” Mr Flynn said.
“Total NSW coal export volumes have increased by 3.6 per cent over the last financial year, with Japan and Korea – Whitehaven’s key markets – continuing to be the biggest markets for NSW coal.”
All of Whitehaven Coal’s operational sites are in the North West of the state and Mr Flynn said 75 per cent of its 800-strong workforce were based permanently in local communities.
Maules Creek is the fifth mine in Whitehaven’s portfolio and will more than double its existing production level.
Federal member for Parkes Mark Coulton, state member for Barwon Kevin Humphries and senior
representatives from Whitehaven’s joint venture partners Itochu and J-Power were also among the guests.
Chairman of Whitehaven Coal Mark Vaile, a former Nationals leader and deputy prime minister, was also at yesterday’s opening.