Without naming coal company sources, the Australian reported this week that next month’s target of getting financial commitments from the participating miners will not be met.

“While WICET is making considerable progress, there are important milestones to reach prior to achieving financial close,” a WICET spokesperson told ILN.

“We are working through a set of complex agreements and issues which are usual for a project of this scale.

“There was a positive response to the expressions of interest sought in December 2009 and WICET is currently assessing those applications. The new terminal will be developed in stages to match user demand for capacity.

“Coal shipments from the new terminal are planned from 2013 and are contingent on finalisation of various commercial and project agreements.”

The spokesperson was unable to comment further on the project’s status at this stage.

Back in May 2009 the project was under review due to the global financial crisis.

The $A4 billion terminal development off the Port of Gladstone is targeting 25 million tonnes per annum of throughput capacity for first-stage development while full expansion will lift it to 80Mtpa.

Members of the WICET consortium include Anglo Coal Australia, Aquila Resources, BHP Billiton, BHP Billiton Mitsubishi Alliance, Caledon Resources, Cockatoo Coal, Yancoal Australia, Jellinbah Resources, Macarthur Coal, Northern Energy Corporation, Qcoal, Rio Tinto Coal Australia, Syntech Resources, Vale Australia, Wesfarmers Curragh and Xstrata Coal Queensland.