The Wallarah 2 Coal Project (Project) proposes to produce 4 to 5 million tonnes per annum (mtpa) of thermal coal for export. The project is located on the Central Coast of NSW near Wyong. The proponent is Kores, a South Korean government owned corporation.
The Australia Institute welcomes the opportunity to make a submission to the April 2017 Planning Assessment Commission (PAC) consideration of the Project. We believe that all points raised in our September 2016 submission (provided as Attachment 1) on the Amended Development Application remain valid, as is our conclusion that the benefits of the project have been overstated and the costs understated.
In this submission we would like to bring several points to the attention of the PAC, points that have not been addressed in the Response to Submissions on the Amended Development Application, the Peer Review of Economic Assessment, or the Addendum Report.
These key points are:
- Financial viability of the project, including:
- Operating costs reported;
- Implications for net economic benefits; and
- Treatment of water issues in economic assessment of the project.