Glencore is assessing the potential for the Valeria coal resource to be developed into a large scale coal operation that would replace production from our Clermont open cut operation, where mining is scheduled to finish in 2026.
We will continue to assess the project’s timing against the global coal market and our overall portfolio. We continue to engage openly and regularly with the Central Highlands community and Government agencies and provide updates of developments.
Any future Coal produced from the Valeria resource will be managed within the coal production cap announced by Glencore in February 2019.
The Valeria South Project consists of two Mining Leases Applications (MLA’s) submitted by Valeria South Coal (a Glencore subsidiary) in March 2019.
The Valeria South Coal Project MLAs will enable Glencore to begin assessing options for a coal operation at Valeria South that will help determine the broader development of the overall Valeria coal resource. Glencore will consult on the proposed project with key stakeholders and will look to address stakeholder feedback in the final projects design and implementation. We are proposing to develop a project with an average production rate of 2.3 million tonnes of run of mine coal per annum over a period of approximately seven years.
The Valeria South project will require a full Environmental Impact Statement and a Social Impact Assessment under the Queensland Government’s Strong and Sustainable Resource Communities Act 2017.