Tinkler Unveils Plans For New Australian Coal Terminal

A coal terminal proposed by mining entrepreneur Nathan Tinkler will nearly double current shipments from Australia's Newcastle port, the world's largest coal export harbor, Tinkler's Hunter Ports vehicle said Tuesday.

Unveiling the group's plan for a 2.5 billion Australian dollar (US$2.48 billion) coal terminal on the south bank of the Hunter River, its Managing Director Steve van Barneveld said the plan would cut disruption to residential areas of Newcastle by re-routing a rail line along industrial land.

"Our concept will deliver a massive boost to local jobs and the local economy," he said.

Newcastle is the world's biggest coal export harbor, shipping 108.3 million metric tons of coal during the year to the end of June 2011. Current plans underway would see its capacity rise to 211 million tons in 2015, and the Hunter Ports project would add a further 100 million tons beyond that.

Earlier this month, Tinkler took control of coking and thermal coal developer Aston Resources Ltd. (AZT.AU) through a boardroom shakeup which saw him appointed as Chairman of the company.

Aston plans to export its coal through Newcastle, but had initial difficulties getting its full allocation through the two existing coal terminals, which are both owned by consortia of mining companies.

Port Waratah Coal Services, which operates the largest terminal facilities, is dominated by Xstrata PLC (XTA.LN) and Rio Tinto PLC (RIO), while Newcastle Coal Infrastructure Group, which is developing a second site, has BHP Billiton Ltd. (BHP) as its largest shareholder.

 
   -By David Fickling, Dow Jones Newswires; [phone]; [e-mail]