Companies

Chinese firms to explore coal block in Queensland

(Xinhua)
Updated: 2010-10-11 11:16

HEFEI - An agreement to explore and develop an Australian coal project was signed Saturday by China Coal Geology Engineering Corporation (CCGEGC) and Wanbei Coal-Electricity Group Co in Hefei, capital of East China's Anhui province.

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The partners will carry out a five-year exploration and development venture in the Wallumbilla exploration block, which covers 924 square kilometers in Queensland's Surat Basin, according to the agreement.

The project is expected to identify a reserve more than 10 billion tons, and the creation of 10 to 15 coal mines would yield 50 to 80 million tons per year, said Ge Jiade, chairman of the board of Wanbei Coal-Electricity Group Co.

China's largest coal exploration enterprise, Beijing-based CCGEGC has applied for seven exploration permits to jointly exploit coal and ore reserves in the states of Queensland and Tasmania with local companies. The applications are under consideration, according to a CCGEGC source.