The Western Australian Government is encouraging Collie Basin’s two privately held mining operations, Griffin Coal and Premier Coal, to consider opportunities to merge in support of the Collie Basin Consolidation Taskforce Report.
Earlier this week, a Plan for the Collie Basin was released following the finalisation of the Collie Basin Consolidation Taskforce Report. The plan draws from the taskforce’s findings and outlines actions to support workers, the industry, and the community as Collie progresses its transition away from state-owned coal-fired energy generation by 2030.
The taskforce examined future coal assets in the basin to identify opportunities to support Collie’s long-term economic growth as coal-fired power generation is phased out.
The Western Australian Government reports that, to strengthen energy security and provide greater certainty for industry, it has extended the Griffin state agreement and secured new coal supply arrangements between Griffin Coal and its major customers, reducing the taxpayer subsidy by $60 million annually.
As part of the Collie Basin plan, the state government will also invest $2.8 million to develop a basin-wide rehabilitation and future land-use masterplan and establish a basin-wide rehabilitation and decommissioning body to coordinate future planning and investment. It will also consider future ownership arrangements within the basin against the objectives identified by the taskforce.
Other investments include $16.8 million in basin-wide workforce transition initiatives, including worker retention measures and targeted support for affected coal workers.
Climate Council urges government to close loophole
This news comes after Australia’s new National Environmental Protection Agency approved its first coal project, allowing BHP Group’s (ASX:BHP) Saraji mine in Central Queensland’s Bowen Basin to continue operating until 2055.
The approval came while Prime Minister Anthony Albanese was meeting with Pacific leaders and days after the Nepalese Government urged world leaders to undertake a global effort to tackle climate change, as reported by the Climate Council.
According to the Climate Council, the project will release roughly 120 million tonnes of climate pollution, or more than Australia’s entire transport sector annually.
Climate Council CEO Amanda McKenzie says more than four million Australian families have put solar on their roofs — doing their bit to cut climate pollution.
“Every tonne of climate pollution is doing us damage today,” McKenzie says.
“The government should stop approving new coal and gas, and strengthen our industrial pollution law so every new, expanded, and extended project answers for all of its pollution from day one.”
Climate councillor Greg Bourne adds: “Close this loophole and every company extending a mine or opening a new industrial facility has to answer for its pollution from day one.”
“That’s a fair rule, and a straightforward one for the government to write,” Bourne says.
Coal is used to produce electricity, iron and steel, cement, alumina, paper, and chemicals.
Australia holds abundant energy resources and is a leading coal exporter, totalling roughly 350–400 million tonnes per year. As a result, the nation generates billions of dollars in revenue annually.
Australia has the fourth largest share of coal reserves in the world. According to Geoscience Australia, since the late 1700s about 9.1 billion tonnes of black coal and about 2.3 billion tonnes of brown coal have been mined domestically.
Write to Aaliyah Rogan at Mining.com.au
Main image: BHP
