Bylong Coal moves closer to Australian Bylong Coal project with revised mine plan
A coal mine currently under development in Australia has taken a key step towards remaining in production, following a new mine plan and recommended conditions from regulators.
Bylong Coal announced in a statement this week that the New South Wales Department of Planning and Environment has released an Assessment Report for the company’s Bylong Coal Project, which includes recommended conditions requiring open cut mining to remain off the KEPCO owned Tarwyn Park property.
Through the revised mine plan, which KEPCO Bylong Australia (KEPCO) provided supplementary information towards, will significantly reduce impacts to Tarwyn Park and mazimise integration of the final landform with the surrounding topography of the Bylong Valley. It will also no longer require the removal of the former Upper Byulong Catholic Church and cemetery.
“The revised mine plan for the Bylong Coal Project is economically viable. This Project will be an economic and employment boon for the Mid-Western Region,” Mr Vatovec said.
“KEPCO has already invested over $700 million - if approved, the Project will require further capital expenditure of $1.3 billion and a total investment over the next 10 years of $3.8 billion, with a substantial proportion of this within the local region.”
“The Bylong Coal Project will remain a major local employment generator in the region for 25 years, with 645 jobs at peak construction phase and 450 jobs during the peak operational phase of the Project.”
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KEPCO proposes to develop the Bylong Coal Project (the Project) to mine up to 6.5 million tonnes of run of mine coal per annum for supply to the thermal coal export market. The mine will include two open-cut mining areas and an underground mining area.
The project life is approximately 25 years, comprising a two year construction period and a 23 year operational period. Subject to government approvals, construction is proposed to commence in 2019. Underground mining operations are expected to commence in year 7
As 100% owner of the Bylong Coal Project, KEPCO is a subsidiary of Korea Electric Power Corporation (KEPCO Korea), which is responsible for the generation of 85% of South Korea’s electricity for its industrial, commercial, residential, educational and agricultural customers.