MINING billionaire Clive Palmer has just announced the economic deal of the century -the creation of up to 70,000 new jobs.
The Queensland entrepreneur has clinched a contract with one of China's biggest power companies to export $69 billion worth of thermal coal from new mines in central Queensland over 20 years.
Royalties from the coal exports will pump between $400 million and $700 million a year, depending on coal prices, into the Queensland Government's coffers - a welcome boost but not enough, says the Premier, to justify abandoning the sale of state assets.
The deal cements the future of Alpha and the Galilee Basin as an economic powerhouse for the state into the future. With other mines also proposed, the region has the potential to produce 100 million tonnes of coal a year.
Full article: here
This should surely be a good sign for property investment in QLD. What do you all think?