The modifications cover changes to the proposed location of mine infrastructure and an extension of the remaining consent life by two years to the end of 2022.

“Coal & Allied has held a development consent for the Mount Pleasant project since 1999 and, following the breakthrough long term framework agreement for the Port of Newcastle in 2010, is progressing towards an investment decision,” the major open cut coal miner said.

“First production is planned for 2014, ramping up to the consented run of mine production rate of 10.5 million tonnes of thermal coal per year for international markets.”

The project still needs federal government approval under the Environment Protection and Biodiversity Conservation Act, along with an environmental protection licence from the NSW government.

Coal & Allied put off developing the project for many years due to supply chain uncertainty but the introduction of the Hunter Coal Export Framework agreement between industry and government in 2010 helped provide certainty.

The Newcastle Coal Infrastructure Group’s new terminal also started exports through Panamax vessels last year.

After many months of delays to planned dredging, this new terminal was due to load its first Cape size vessel on Friday according to Platts.

Coal & Allied shares are unchanged at $122.67 this morning.