Glencore receives special status for QLD coal project

This is a major milestone for Glencore as it moves the Valeria project through its approval processes.

Valeria will produce metallurgical and thermal coal, and support up to 1400 construction jobs and 950 full-time operational jobs over a 35-year mine life.

The Valeria coal mine will replace production from other Glencore operations coming to the end of their mine lives, including the Clermont coal mine in central Queensland.

“Our Australian coal operations will continue to produce the high-quality coal required to meet expected levels of global steel production and energy demand in Asia,” Glencore coal assets Australia chief operating officer Ian Cribb said.

“In Queensland, coal continues to be an important driver of the economy as a source of jobs, royalties, reliable energy and support for local businesses both in the city and the bush.”

Glencore’s coal assets contributed more than $4 billion to the Queensland economy through investment in existing mines, royalties, community programs and spending capital on goods and services from regional suppliers.

Queensland Treasurer Cameron Dick said the Valeria mine would be a valuable part of the state’s plan to unite and recover employment post-coronavirus.

“This new mine has the potential to create hundreds of new jobs as Queensland recovers from the extraordinary shock of the global coronavirus pandemic,” Dick said.

“Projects like this are a vote of confidence in Queensland’s future as a diversified economy.

“Queensland has been spared some of the worst impacts of the COVID downturn. That is thanks in no small part to some of our traditional industries like mining and agriculture that have been able to keep Queenslanders employed and their markets sustained through these troubled times.”

The next step in bringing the Valeria mine to life will be for Glencore to prepare an environmental impact statement, which will be assessed by Queensland’s coordinator-general for environmental, social and economic impacts.

There will also be extensive community consultation and rigorous scientific analysis to understand the feasibility of any impacts going ahead.