History of the Wallarah 2 Project
In 1995 the NSW Government granted Exploration Licenses to the Wyong Areas Coal Joint Venture for the two areas east and west of the F3 on the Central Coast of New South Wales. Coal Operations Australia Ltd (COAL) was the original majority shareholder of the Wyong Areas Coal Joint Venture, with Kores Australia Pty Ltd (Kores) and other Korean and Japanese interests holding minority shareholdings.
BHP Billiton subsequently became the majority shareholder in the Wyong Areas Coal Joint Venture through the acquisition of COAL in 2002 and later sold its interest to Kores in 2005. As a result of the sale, Kores’ equity in the venture increased to 82.25% and they are now the major shareholder and manager of the Wyong Areas Coal Joint Venture. In the period since 1995, the Wyong Areas Coal Joint Venture has undertaken extensive programs of exploration, environmental monitoring, environmental assessment, community consultation, technical planning and economic analysis of the Project, leading to its planning approval in January 2018.
Exploration, mine planning and environmental investigations defined significant coal resources beneath both the western areas (including Yarramalong and Dooralong Valleys, Wyong and Olney State Forests, Jilliby State Conservation Area [SCA]) and surrounding ranges.
The Wallarah 2 Coal Project's planning approval provides for underground mining deep below parts of the western area for a period of 28 years and development of associated surface facilities, principally at Buttonderry and Tooheys Road localities.