Galilee Basin - Queensland

TPL has lodged an exploration application (EPC 2333) within the northeast portion of the highly prospective Galilee Basin in Queensland, known as the Mount Tutah Project.  The application comprises two discreet areas situated along the eastern margin of the Galilee Basin, with a combined coverage of just over 30 km.  Historical geological mapping and drilling indicate the Betts Creek Coal Measures occur as shallow, relatively flat beds within or close to the application area.

The Galilee Basin's very large coal resource was established from Geological Survey of Queensland (GSQ) exploration in the mid-late 1970's.  In 2005, a 600 million tonne resource was identified in the north and another several billion tonnes were defined by Hancock Prospecting north of the Alpha township.  Other players in the basin suchas Waratah, Bandana and Adani-Linc Energy all boast multi-billion tonne thermal coal resources.  Gina Rinehart recently sold her majority holdings in Hancock Prospecting's Galilee Basin coal project to an Indian company (GVK) for $1.2 billion (Australian Mining, 19th Sept. 2011).

Waratah and Hancock Prospecting are addressing the need for infrastructure including rail and port, and have begun planning a project worth over $6 billion with the assistance of the Queensland Government.  This project will be of great benefit to TPL.