GlencoreXstrata shelves Queensland export terminal

摘要

GlencoreXstrata has shelved plans for the 35 million mt/ year capacity Balaclava Island coal export terminal near Gladstone port in Queensland, Australia, citing poor market conditions and excess port capacity. The Balaclava Island project was proposed in 2009 and had passed through several environmental and other approvals, according to Queensland's Coordinator General. GlencoreXstrata said in a statement it would immediately halt work on the proposed terminal, adding that the decision followed the May 1 merger of Glencore International and Xstrata. "The decision has been made as a result of the poor current market conditions in the Australian coal industry, excess port capacity in Queensland, specific shipping limitations and concerns about the industry's medium term outlook," GlencoreXstrata said in the statement.