As such, the conference is a high-powered “meet and greet” opportunity, with government ministers and senior public servants on hand as well as 890 attendees.
This year there was considerable interest in what the fallout from the changed economy had been. In reality that was a non-event: there’s still a lot happening or planned to happen, and no doubt Queensland will continue to be an economic powerhouse of Australia.
But while there were plenty of positives, a few cautionary notes were weaved into the comments of the 20 speakers, which included four government ministers.
There was a broad base of speakers, with strong input from the resources sector, and it was clear that the Galilee and Surat basins will ensure the coal industry in Queensland remains strong for decades to come. Both these regions will require new rail lines and new or upgraded port facilities, which will also keep civil contractors busy.
Representing the Surat Basin, Syntech Resources managing director Darian Hielscher talked about the two-stage plans for Cameby Downs coal mine to reach 10 million tonnes per annum of output by 2013-14, with the potential to double that at a later time. The possibility of converting the coal to a higher energy form, such as a liquid or gas, will also be explored.
Erik Schafer, chairman of Syntech majority shareholder Direct Invest AG, flew from Germany for the conference and spoke briefly about his company’s seven-year history of investing in Australian energy resources. He endorsed the ease of dealing with the Queensland government.
Hancock Coal presented the case for the Galilee Basin, with its thermal coal resources at Alpha and nearby Kevin’s Corner, and plans for a 500km rail line to a port at or near Abbott Point.
The rail alignment will look to keep gradients to a minimum to allow 25,000t trains to run with low operating costs (currently the average coal train is around 10,000t).
Over time the resource is expected to ramp up to produce 30Mtpa, progressing to 60Mtpa and ultimately 100Mtpa, with four open cuts, four longwall mines and up to eight draglines.
Also of relevance, given the threat of carbon taxes for traditional fuels, is the ZeroGen project, which will integrate the technologies of integrated gasification combined cycle with carbon capture and storage to produce low-emission base load electricity.
The project was initiated by the Queensland government and the coal industry (Coal21 Fund) but more recently has received investment from Mitsubishi Corporation and Mitsubishi Heavy Industries.
ZeroGen chief executive Dr Anthony Tarr outlined plans to get to the point of selecting a trial site by the first quarter of 2010, and stated that coal would remain the dominant world energy source for the foreseeable future.
Things certainly look to be heading in the right direction on paper and there was considerable optimism shown by the speakers at the conference.
However, a week after the conference, the chief executive of the Queensland Resources Council was quoted in the state’s leading daily newspaper as attacking the government performance on approving projects and saying that it under-resourced the departments charged with administering planning and approvals.
Given the importance of the resources industry to future state development, this will keep the pressure on the government to ensure that it not only talks the talk, but also walks the walk.
