A multinational financial services company has abandoned a new coal development in Central Queensland’s Capricorn region.
Liberty Mutual refuses to progress Baralaba Coal’s $100 million Baralaba South Coal Project, 115km southwest of Rockhampton.
The project partner missed an April 30 deadline to lodge the environmental impact statement (EIS) due to climate change theory, which holds that burning fossil fuels creates carbon emissions that can influence long-term weather patterns.
“As part of our investment processes, we have been evaluating alternatives for our Baralaba investment for some time and will not be submitting an environmental impact assessment for the south mine at this stage,” a company spokesperson said according to Reuters.
“We remain committed to collaborating with all stakeholders.”
Anti-coal protesters suspected
QMEB understands these stakeholders include members of Save the Dawson and other anti-mining activist movements.
Supporters welcomed the decision and even claimed the entire project was cancelled.
“Liberty Mutual has chosen not to submit an EIS for the fiercely opposed Baralaba South coal mine plan on fertile agricultural land in Queensland, effectively meaning the project will not be built,” Lock the Gate Alliance said on Facebook.
“A massive congratulations and job well done to the hard-working Baralaba community.”
875 jobs go
However, people living in the Baralaba area will have fewer career options since the project was promised to create 275 construction jobs plus a further 600 operational positions once complete.
The original proposal included an open-cut metallurgical coal mine that uses traditional truck and excavator methods to produce up to 5 million tonnes per annum of run-of-mine coal for export.
Low-volatile pulverised coal injection coal would then be transported 40km by covered road trains to the existing train load-out facility, about 2km east of Moura.
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The State Government had not responded to the delay at the time of publication.