By Jesse Riseborough
Nov. 26 (Bloomberg) -- BHP Billiton Ltd., the world’s biggest mining company, Rio Tinto Group and Xstrata Plc are part of a 16 company group that’s agreed to build a A$4 billion ($2.6 billion) coal terminal in Australia’s Queensland state.
“Construction of the Wiggins Island Coal Terminal would see the Port of Gladstone become one of the world’s largest coal export ports,” the state’s premier Anna Bligh said today in an e- mailed statement. “Wiggins Island is expected to be delivered in three stages, with the first stage creating additional port capacity of 25 million tons per annum by late 2012.”
The additional terminal at Gladstone will boost capacity to 150 million metric tons. Queensland is the world’s largest exporter of coking coal and prices of the steelmaking material rose to record this year.
The government and the group are seeking to secure finance next year, the statement said. Access to the terminal will be based on long-term “take-or-pay” contracts, Bligh said.
The group also includes Anglo American Plc, Aquila Resources Ltd., Felix Resources Ltd., Macarthur Coal Ltd., Wesfarmers Ltd. and Cia. Vale do Rio Doce.
To contact the reporter on this story: Jesse Riseborough in Melbourne at jriseborough@bloomberg.net
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