Belvedere, located near Moura in central Queensland, is managed by the Aquila (24.5%) and Vale-owned Belvedere Coal Management.

Three mining lease applications have been lodged with the Queensland Department of Mines and Energy for part of the 6000-hectare area.

Aquila said this morning that if all regulatory and internal approvals were satisfied there was potential for the metallurgical coal mine to be operating by 2014.

Aquila initially plans to produce 7Mtpa for export with the potential to increase up to 9Mtpa for export via the planned Wiggins Island Coal Terminal near Gladstone.

A prefeasibility study is already underway for the project. Planning is also underway for environmental baseline studies and community consultation.

Aquila was trading at $A15.40 this morning.