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The USD 1.2 Billion Queensland Coal Mine, the Plane Crash and The 12 Year Legal War - Report

Coal News - Published on Fri, 23 Aug 2019

Image Source: Royal Flying Doctor Service
Brisbane Times reported that a legal war between two coal tycoons, one of the longest in Queensland's history, was expected to come to a head in a matter of weeks. Sanrus, the company controlled by former geologist and Queensland coal king Mr Chris Wallin, is suing the company of his former mining partner Mr Ken Talbot, who died in a plane crash in 2010, for USD 1.2 billion in damages.

What began as a joint venture to dig up millions of tonnes of thermal coal at Monto in Queensland's North Burnett region, turned sour before ground was ever broken on the project.

Mr Wallin, whose first job out of university was to discover coal deposits for the government's mines department, teamed up with the late magnate Ken Talbot in 2002.

Mr Talbot, who founded Macarthur Coal, controlled 51 per cent and Mr Wallin's Sanrus owned 39.2 per cent. The rest was split up between Mr Wallin's former business partners. The agreement laid out two stages for the project.

However, stage one would produce 1.5 million tonnes of coal a year and stage two would ramp up to 10 million tonnes after a feasibility study was completed.

Source :

Posted By : Sanju Moirangthem on Fri, 23 Aug 2019
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