NAB offers $600 million to lease Dalrymple
The National Australia Bank (NAB) has offered $600 million to lease the Dalrymple coal terminal in central Queensland. Those who made the shortlist, included NAB, a Macquarie Bank consortium, Babcock & Brown and an AMP-led consortium. NAB's bid is believed to about $100 million above the next highest. The Queensland Government is scheduled to announce the winner in June. The industry is nervous that a successful NAB offer will be an increases in charges.
MACQUARIE Generation to upgrade Liddell power station
The power generator has announced plans to spend $72 million to upgrade the Liddell Power Station in the Upper Hunter Valley in New South Wales. Four low pressure turbines will be replaced over four years, increasing Liddell's efficiency by 3% and reducing carbon dioxide emissions by up to 300,000 tonnes a year. Under the Commonwealth $400 million Greenhouse Gas Abatement Program, the upgrade will receive a $5 million contribution towards the work. Liddell's generating capacity will increase by 60 MW, without the need for any extra coal, water or steam.
The work will allow Liddell to generate 2060 MW, making it the third largest power station in Australia behind Bayswater and Eraring which both generate 2640 MW.
Future bright for NSW coal
RECENT industry changes, combined with very favourable exchange rates and an increase in the price of coal provides significant opportunities for the New South Wales coal industry to improve profitability. This was according to NSW Department Mineral Resources director Brad Mullard, speaking at the NSW Mineral Exploration and Investment 2001 Conference.
“The New South Wales coal industry will continue to face a series of global challenges, including competition for capital, low commodity prices and tougher environmental constraints,” he said.
Future opportunities will be shaped by a range of domestic and international issues, Mullard said. These could include exchange rate movements and the capacity of the industry to continue to reduce its cost structure. Mullard added that the Northern Coalfields of NSW with its abundant reserves of high quality thermal coal will continue to dominate as the centre for new coal mine development over the next decade.
