News

Rinehart partner finds quality coal seam near Bundaberg

The discovery of a high quality coal seam near Bundaberg may be good news for the battered community.
The discovery of a high quality coal seam near Bundaberg may be good news for the battered community. Jill Poulsen

GINA Rinehart's joint venture partner, International Coal, has revealed a surprisingly high-quality coal discovery near Bundaberg.

International Coal told the Australian Securities Exchange on Wednesday that results at one drill hole near Bundaberg, in the Maryborough Basin, had returned an extremely high-quality coking coal.

News Ltd reports Mrs Rinehart's company, Queensland Coal Investments, struck a deal last year with International Coal in which QCI will spend $3 million on exploring tenements in the Maryborough Basin in exchange for a potential 51% interest in the project.

International Coal chief executive Glenn Simpson said the results of the explorer's drilling program so far were pleasing, but he stressed the company had "a long way to go" to prove it had a viable project.

Mr Simpson said the company would need to wait for conditions to improve before drilling could restart.

In an announcement to the ASX on Wednesday, the company expressed its deepest sympathy for the damage suffered by the Bundaberg community recently.

"The Bundaberg community has been welcoming and understanding of our project activities, and our thoughts are with those now who have lost property, sustained damage and face the challenge of the rebuild ahead," a statement read.

Topics:  bundaberg coal coal mining gina rinehart mining resources



Sedated man jumps from hospital bed, injures ambulance officer

Gladstone Base Hospital, Park Street, Gladstone.



Photo Christopher Chan / The Observer

Hospital staff sedated the man and left the room...

Man writes off car but doesn't realise he has been in a crash

FILE PHOTO: Skid marks were left on the road at the scene of a crash on Rosella Dr.

HE WROTE off his car and didn't even realise he had been in a crash

'They picked the wrong cookie:' Gladstone granny thwarts scammers

Gladstone residents are warned to ignore a phone scam that say's they have won 2 million dollars.  Picture: CHRISSY HARRIS GLA_scam860710-1

Pensioner was not to be trifled with when she received a scary call.

Local Partners