Gina Rinehart's Multi-Billion Dollar Coal Mine In Queensland Just Got Environmental Authority

A mountain of coal. Luke Sharrett/Getty Images)

After six years in the works, Gina Rinehart’s GVK Hancock has just secured environmental authority for its $7 billion Alpha coal project in Central Queensland’s Galilee Basin.

With environmental authority granted, the mine is now one step closer to being operational, which the company said will create about 4,000 jobs during construction period and more than 1,800 jobs over the mine’s 30-year planned life.

GVK Hancock said the low ash, low sulphur thermal coal can be mined from shallow, flat seams at volume, meaning the operation can be cost competitive in a tough commodity price market.

The company said it is working towards advancing the project to construction and is soon to finalise an infrastructure joint venture deal with Aurizon.

Alpha has an estimated resource base of 1.8 billion tonnes of coal and is expected to produce around 32 million tonnes a year over 30 years once a full open cut mine is up and running.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at