New report says Bowen Basin coal industry still expanding
13 June, 2013
If Moranbah residents aren’t used to seeing high-visibility shirts all over town yet, they’d better get used to it.
The days of “coal is king” aren’t over for this Central Queensland town, according to The National Property Research Co.’s recently released report.
Mining giants such as Rio Tinto, BMA, Aquilla, Peabody, Anglo-American and New Hope have recently engaged in Pre-Feasibility or Feasibility Studies for eight new coal sites located around the Moranbah region. This, in conjunction with another six new or expanded mines which are already under construction and are expected to come online during the next 24 months, means the Moranbah workforce is still increasing.*
The report, commissioned by Reed Property Group, also outlines a number of projects in other sectors which will boost the local economy, including the Moranbah Coal Seam Gas Operation and a number of ongoing infrastructure projects.
According to Matthew Gross from The National Property Research Council who wrote the report, we need to stop thinking about mining as an all or nothing industry.
“There are billions of dollars in sunk capital in the broader region that require mines to continue to operate,” Mr Gross said.
“You only have to fly over Hay Point to see the 30 or so coal ships anchored, waiting to be filled. Mining, like all industries is cyclical and has periods of rationalisation; that does not mean they all stop operating.”
“New infrastructure projects currently in the pipeline include the committed Goonyella System Expansion project providing greater rail access between the Bowen Basin and Mackay.”
“The Central Queensland Integrated Rail Project, also to be undertaken by QR National is to provide a connection from the South Galilee Basin to Bowen and is expected to cost over $2 billion and provide 2,500 construction jobs and 800 operational roles.”
“Future improvements are expected in the Peak Downs Highway with funding of $55 million for an expected total project value of $120 million already allocated for the joint state and federal government project.”
Reed Property Group’s Jason Kollanyi said it was encouraging to see that across the board, there are so many positives for those investing in the region to look forward to.
“We are forging ahead with construction at Ludwig Apartments so investors will be able to catch the next wave of mining and construction workers looking for accommodation when the project is completed in August this year.”
“Moranbah has already held the title of Queensland’s fastest growing mining town and may well be an ongoing contender in the coming years given the activity and investment planned for the region.”
For more information on the two apartments available in Ludwig Apartments, please contact Jason Kollanyi on 07 5479 4444.
*Matthew Gross, The National Property Research Co. (April 2013) Moranbah Market Overview, Market Analysis. Report can be found here.
Ends.
Contact details for Matthew Gross, The National Property Co for further comment: 0416 144 625
Media contact: Maya Gurry – Fresh PR & Marketing
P: 0410 109 102 E: maya@freshprm.com.au
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