Queensland Government Scraps Abbot Point Coal Terminal Expansion

According to Business Spector, the project would have created one of the world’s largest coal ports, but its cancellation further underscores growing questions about the outlook for Australia resources boom in the wake of BHP Billiton decision to renege on plans to spend US$80 billion on new projects. The government Abbot Point decision affects both a planned expansion of the coal terminal and also a US$2.3 billion 12-berth cargo facility. The Abbot Point project’s demise was hastened by the departure of two major partners including Rio Tinto, in recent months.