Clive Palmer Bids for Coal Terminal Expansion

Maverick federal member of parliament Clive Palmer has sought permission from the Queensland government to take over one of Australia’s most controversial and environmentally sensitive port developments, according to The Australian. Waratah Coal, a wholly-owned subsidiary of Palmer’s Mineralogy Pvt. Ltd., wants to acquire the $3 billion T2 expansion of the Abbot Point coal terminal surrendered by BHP in November. The Abbot Point expansion has become one of Australia’s most controversial projects because of the need to dredge and dump spoils within the Great Barrier Reef Marine Park. Federal Environment Minister Greg Hunt and the Great Barrier Reef Marine Park Authority have given approval for 3 million m3 of dredging, subject to strict conditions. Environment groups have mounted a strong campaign against the Abbot Point expansion in part because it will allow development of a massive new coal province in the Galilee Basin.