Australia-based Hunter Ports owned by Tinkler Group has proposed to build a A$2.5 billion coal export terminal with a capacity of 100 million mt per year in Newcastle, New South Wales.
Hunter Ports stated that the new export terminal will almost double the current levels and additional coal exports will bring approximately A$12 billion a year.
According to Hunter Ports' statement, as the world's largest coal port, Newcastle Port's export capacity must keep pace with the global demand from steelmakers and energy companies. The location proposed for the coal terminal offers a more cost-effective construction in a shorter period.
The project will provide a gross regional product to the Newcastle region up to A$140 million a year, once the terminal is at full capacity.