“Formal relinquishment of the right to develop T2 has now been - TopicsExpress

“Formal relinquishment of the right to develop T2 has now been agreed with North Queensland Bulk and the company will formally withdraw from related regulatory applications,” a BHP spokeswoman said. The decision was taken against a backdrop of falling global coal prices and existing port capacity at Hay Point. A report by the Centre for Policy Development has found there is an excess of port capacity along the Queensland coast, raising concerns that the push to expand ports at Abbot Point, Gladstone and Townsville could put the state “at risk of stranded assets in the long term”.

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