News

Brunker not worried as Rio walks

Mr Brunker said it was "no major drama" that the company would not be involved in the deal anymore.
Mr Brunker said it was "no major drama" that the company would not be involved in the deal anymore. Peter Holt

WHITSUNDAY Mayor Mike Brunker is confident the $6.2 billion Abbot Point Coal Terminal expansion will go ahead, even though mining giant Rio Tinto has withdrawn from the deal.

A Rio Tinto spokesman said economic uncertainty and proposal elements were to blame for the company's decision.

"Rio Tinto withdrew from the current process for the potential development of additional port capacity at Abbot Point, due to changes in the economic environment and the commitments required to progress the option," the spokesman said.

"Global economic markets have shifted to a period of significant uncertainty and we continue to see both a sustained upward pressure on costs and long timeframes for regulatory approvals."

He said future involvement with the Abbot Point Coal Terminal expansion could be a possibility.

"Rio Tinto would welcome the opportunity to participate in further discussions should key elements of the Abbot Point proposal be revised in the future, such as the development model and scope of commitment required. Rio Tinto's focus at present is evaluating potential alternatives to Abbot Point for additional port capacity."

Mr Brunker said it was "no major drama" that the company would not be involved in the deal anymore.

"It's cutting the weak from the strong," Cr Brunker said.

"I don't think it's anything to panic about.

"A lot of companies wanted to produce coal out of there."

Member for Dawson George Christensen warned that other companies could follow Rio Tinto.

"There's speculation BHP Billiton could be jittery on it (the expansion) as well," Mr Christensen said.

"Rio Tinto pulling out of the deal is a blow for project. One thing Rio Tinto cited was regulatory approvals. Those approvals have been with the Federal Government since December 2010 until now. If it (approval times) go on too long it will kill it."

EXPANSION HISTORY

 On March 13 the Daily Mercury reported the expansion approval deadline would be delayed until December, 2012

 Initial respondents for the project were Rio Tinto, BHP Billiton, Adani and Hancock Coal

 Stage one of the expansion is likely to have four berths and a tug facility; stage two could include eight more berths

Topics:  abbot point coal terminal, mike brunker, rio tinto


Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Battlers grateful drought's brought people together

HELPING HAND: Calvin Bartley and Brad Todd at Winhaven at Aramac.

Jenny and Brad Todd receive boost during drought.

Giving hope to those touched by cancer

Bev Donohoe will lead the Central Highlands Relay for Life this year, 2016.Photo Rebekah Yelland / CQ News

Springsure's Bev Donohoe is the face of CH Relay for Life 2016

Region given good dousing

Sandy Willcott sent CQ News a photo of her backyard from the weekend's wet weather. She said she was lucky her house is on stilts otherwise she might've been flooded out.

Emerald has received it's highest July rainfall ever recorded

Latest deals and offers

Chopper pilot undergoes surgery

Helicopter pilot who crashed in central west Queensland yesterday underwent surgery today.

Grab a bargain at Capella Christmas in July markets

FESTIVE FUN: The children at C&K; Capella Early Childhood Centre are excited about this weekend's Christmas in July markets at the Capella Cultural Centre.

Capella Christmas in July Markets features 106 stalls

Ipswich drivers hate this more than anything else

Ipswich Motorway traffic at Goodna. Photo: David Nielsen / The Queensland Times

RACQ names top ten worst driving habits

Battlers grateful drought's brought people together

HELPING HAND: Calvin Bartley and Brad Todd at Winhaven at Aramac.

Jenny and Brad Todd receive boost during drought.

Pizza chain goes into voluntary administration

Eagle Boys pizza store

Mackay Eagle Boys will continue to feed the Mackay community

Giving hope to those touched by cancer

Bev Donohoe will lead the Central Highlands Relay for Life this year, 2016.Photo Rebekah Yelland / CQ News

Springsure's Bev Donohoe is the face of CH Relay for Life 2016

Dr Karl, Barnaby Joyce and 'how to unf*** the planet'

Dr Karl will be at Splendour in the Grass 2016.

Controversy and laughs at Splendour in the Grass panels and forums

Rob Kardashian 'neglected' by Blac Chyna

Friends say they are now 'back in love'

Isla Fisher: I don't like talking about my private life

Isla Fisher shut down TV hosts when they asked about her husband

Mariah Carey: I 'can't believe' Prince has gone

'Prince was one of the best people I've met'

Joe Jonas' 'tough' pals

Joe Jonas' pals are 'tough' with his potential partners

The Bachelor wash up: bacon, plank offs and that white rose

Richie Strahan, second from left, with bachelorettes Eliza, Faith, Noni and Janey in a scene from episode one of the fourth season of The Bachelor.

RICHIE Strahan meets some beautiful, and colourful, bachelorettes.

You can own this Queensland town for just $1

Yelarbon

Unprecedented auction of town's business centre with no reserve

Work starts on $15M Caloundra apartment building

Turning the first sod at the Aqua View Apartments site in Kings Beach are (from left) husband-and-wife developers Alex Yuan and Stella Sun with construction company Tomkins director Mike Tomkins and Councillor Tim Dwyer.

Developers excited about addition to Kings Beach skyline

72-year-old Coast developer set to start new project

GREEN LIGHT: The Cosmopolitan has been approved for development at Cotton Tree.

Meet the Canberran set to deliver another chapter for Coast suburb

Plans revealed for 1500-lot 'master-planned community'

Precinct will be bounded by Boundary St and Shoesmith Rd

Ecco Ripley sales run sparks prime release

MOVING IN: Sekisui House has announced the release of more residential blocks at Ecco Ripley.

Sekisui House is preparing to unveil more land at Ecco Ripley

The climb is slow but property on the way up

Michael Matusik, director of Matusik Property Insights.Photo Allan Reinikka / The Morning Bulletin

The improvement would be mild when compared to past cycles