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Crean welcomes BHP's prompt investment commitment



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Simon Crean, MR

MEDIA RELEASEMinister for Primary Industries and Energy DPIE91/331C 20 December 1991

CREAN WELCOMES BHP'S PROMPT INVESTMENT COMMITMENT

The M inister for Prim ary Industries and Energy, Simon Crean, today welcomed BHP-Utah's prompt action in placing orders for new equipment in Central Queensland as p art of their $248.5 million

investm ent program.

"The decision to abolish the Coal Export Duty as p art of a package of micro-economic reform for the A ustralian coal industry underpins the facilitating role this Government is prepared to play in working with industry to ensure the future wealth of this nation," Mr Crean said.

"The speed in which the orders for new equipment were placed will ensure the creation of at least 120 jobs next year.

"In return for giving up the $47 million in the Coal Export Duty we received a commitment from BHP-Utah to invest $122 million in mining activity, a commitment over five years to an additional $65 million for research and development and a commitment to $50 million for rehabilitation works.

"In other words, for the $47 million foregone, there will be a national outcome worth in the order of $240 million. This is sensible industry policy."

BHP-Utah said orders had been placed for a truck and shovel overburden fleet for Peak Downs mine and a replacement dragline for the Moura mine. Planning is also underway to build accommodation for up to 120 additional employees required to operate and service the fleet in Moranbah. Tenders will be called early in the new year, providing extra jobs for the region.

Information: Catherine Payne, Minister's office (06) 277 7520.

Media Information. Current Awareness and Hansard. (M1CAH)

Parliament House, Canberra ACT 2600. Telephone: (06)277 7520 Facsimile: (06)273 4120