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$1.7b new mine might not help investors, Moranbah

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Grosvenor, near Moranbah, will see a new $1.7 billion coal mine, according to the Queensland State Government this week, yet this might not help investors in the region.

The Anglo American project will created up to 1,000 new jobs, according to natural resources and mines minister Andrew Cripps.

However, he also said that the approval was based on requirements for Anglo American to provide accommodation answers for local workers.

"The Queensland Government will work closely with the company and the Moranbah community to address key issues such as accommodation availability and infrastructure support," he said.

"Residential infrastructure is a critical issue for Moranbah and I am pleased that Anglo American is working with other local coal companies to develop and ensure the availability of accommodation and key community facilities.

"I am advised this company will offer a range of accommodation options to its workforce and build more than 50 new houses and townhouses in the Moranbah area."

Site construction will begin soon, with first development coal production to begin next year, and longwall mining planned for 2016.

The mine is expected to produce up to seven million tonnes per year of high quality hard coking coal.

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$1.7b new mine might not help investors, Moranbah
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