Peabody Boosts Queensland Coal

Balancing the prodigious iron ore deposits of Western Australia are the equally vast coal resources of the Bowen series of eastern Queensland. The Bowen series is a Permian basin stretching 500 miles in a north-south line. The beginning of what will be large scale mining of the Kianga-Moura coalfields in Dawson Valley was made by the Australian company of Thiess Bros. in July 1961. Then Peabody Coal Co. of St. Louis, Mo., joined Thiess. Later, Mitsui & Co. Ltd. received a 20% interest in the firm Thiess, Peabody, Mitsui Coal Pty. Ltd. Rtitsui was to lend the company money for development. Queensland Parliament, by special act, granted the company exclusive franchise over the Kianga-Moura coalfield, an area of 350 square miles. The rights do not include other minerals. The company is to have a 120-mile railroad completed to Gladstone or some other port in seven years. It must produce at least 500,000 long tons of coal annually until the line is built, after which production is to be upped to 2 million tons. By December 1962, these arrangements were completed.