GVK Hancock welcomes Land Court recommendation

The Land Court of Queensland in Australia has granted conditional clearance to $ 10 billion Alpha Coal Mine project being developed by GVK Hancock, part of the Hyderabad-based GVK group.

In a press release here on Tuesday, GVK welcomed the recommendations from the Land Court that the environmental authority and mining lease for its coal project be granted subject to conditions.

During the case, according to the company, objections were heard in relation to climate change, economics, surface water, groundwater, land use, public interest and greenhouse gas emissions.

"This recommendation to grant the mining lease and environmental authority endorses the comprehensive environmental assessments of the Galilee Basin projects, which was approved by State and Federal governments (of Australia)" the company stated.

GVK Hancock's Galilee Basin projects include the Alpha, Alpha West and Kevin's Corner coal projects, and incorporate associated infrastructure including a rail solution connecting the Galilee Basin to a new coal terminal (T3) at the existing Abbot Point Coal Port. When combined, these projects will create one of the largest thermal coal mining operations in the world.

The projects will provide direct employment to around 7,500 people across the region, state and nation during construction, and almost 4,000 once operational contributing over $40 billion in taxes and royalties over the life of the mines, GVK said.

GVK had acquired 79 per cent stake in the Alpha Coal and Alpha West projects and 100 per cent stake in Kevin's Corner coal projects from Hancock Prospecting Pty Ltd in 2011.