The Wandoan Coal Project is a joint venture between Glencore Coal Queensland Pty Limited, who own 75% of the venture, along with ICRA Wandoan Pty Ltd and Sumisho Coal Australia Pty Ltd, who each own 12.5% of the venture.
In 2007, the Wandoan Coal Project applied for Mining Leases over an area of approximately 32,000 hectares, immediately west of the township of Wandoan in Queensland’s Surat Basin, 400 kilometres north-west of Brisbane.
Glencore currently awaits the granting of the Mining Leases for the project by the Queensland State Government. However, in September 2013 we announced that the project had been put on hold and this decision will not change with granting of the Mining Leases.
We will continue to assess the project’s timing against the global coal market and our overall portfolio.
Our business continues to demonstrate supply discipline.
We will only bring on new production volumes if we are confident that doing so will not materially add to oversupply in the market and have a negative impact on global coal prices.
We continue to engage openly and regularly with the Wandoan community and provide updates of developments.