Menu
News

Fears Coalbank drilling may impact Somerset property prices

AS Coalbank moves to begin exploratory coal drilling in the next week in the Somerset a leading Esk real estate agent has voiced concerns about how the activity will impact property prices.

Coalbank CEO Andrew Fogg and COO Bruce Patrick delivered a presentation to a Somerset Regional Council meeting on Wednesday to explain the company's coal exploration plans for five separate sites between Esk and Toogoolawah.

Mr Patrick said at the meeting that work on the project could start next week.

But Esk real estate agent Helen Granzien said there were genuine concerns for property owners about the impact future coal mining could have.

"We have a number of residents concerned about whether the prices are going to decrease or if it will be good for the valley," she said.

"But the majority of the people are concerned that property prices are going to decrease."

 

MORE STORIES FROM QT ...

Who could dump these six cuties?

Unions call on Ipswich's MPs to oppose Swanbank job losses

Council considering two locations for performing arts centre

Love is all you need this Valentine's Day

 

She said she hoped a public meeting in Toogoolawah on Monday would "shed some light" on the issue.

Queensland-based company Coalbank holds Exploration Permit for Coal (EPC) 2239 under the Mineral Resources Act.

Concerns were raised this week in the QT from a variety of sources about the impact the company's plans would have on water catchment and on farming land.

But Coalbank explained at the Somerset meeting that the exploration planned uses essentially the same drilling rigs used by landholders for drilling water bores, is low impact and is conducted within the strict requirements of the Mineral Resources Act.

"Minimisation of impacts from exploration activities through interaction with landholders is a key component of Coalbank's approach," Mr Patrick said.

He said the company had no plans to look for coal seam gas.

Topics:  somerset regional council


Stay Connected

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

Region faces wild wind

DESTROYED: Half of the roof of the Moranbah home was ripped off from the 104km/h wind.

Moranbah residents say weather is worse than the cyclone.

Heroic rescue saves life

CLOSE CALL: Leslie Cruthers and Buddha at the spot the playful pup fell into the Nogoa River.

Kayakers rush to save dog walker clinging to riverbank.

National super star at age 13

Competing in Rotorua, New Zealand earlier this year.

Dingo local takes on international motocross competition.

Local Partners