Sunday, May 27, 2007

An export bottleneck is costing the coal industry $1 billion a year. [File photo]

An export bottleneck is costing the coal industry $1 billion a year. [File photo] (Getty Images)

Export bottleneck costing coal industry $1b

The coal mining industry is backing the Queensland Government to resolve an export bottleneck that is costing the industry $1 billion a year.

A new report says Queensland Rail is not providing the capacity to get enough coal to the Darymple Bay and Port of Gladstone coal loading facilities in central Queensland.

Xstrata Coal chief executive Peter Coates says the industry is also concerned about the number of ships waiting off Newcastle to be loaded with coal.

"It's costing the coal industry between New South Wales and Queensland something like $1 billion a year," he said.

"That's the sort of money we're talking about in demurrage, so this is a mammoth issue.

"What we want is not so much to apportion blame to anyone. What we want at the end of the day is for everyone to work together to solve the problem."

Mr Coates says the industry is looking to Queensland Deputy Premier Anna Bligh to help resolve the issue.

"I'm very, very comfortable with the Deputy Premier appointing an independent person to look at this because it really does need someone to look at it objectively and work out where the problem is and move forward," he said.


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