I dont think many people realise HGL's subsidiary Bundaberg Coal...

I dont think many people realise HGL's subsidiary Bundaberg Coal own 50% of EPC 1263 the tenement surrounding Hancock's and joining Waratah's Galilee Basin..this appeared in media yesterday ..

Hancock Prospecting's hopes high for thermal coalmine
Matt Chambers | August 12, 2009
Article from: The Australian

BILLIONAIRE Gina Rinehart has flagged a $9 billion development of a second Hancock Prospecting thermal coalmine in Queensland that, if successful, would see the company become one of the nation's biggest producers.

Hancock, chaired by Ms Rinehart, has doubled its Queensland thermal coal production targets to 60 million tonnes a year, according to documents submitted to the federal Environment Department.

The company is set to start a feasibility study on the 30 million tonnes-a-year Kevin's Corner pit and underground project west of Clermont, which will share infrastructure with the previously flagged $7.5bn Alpha development of the same size. It is targeting Indian, Japanese and Korean buyers for its coal and has started talks with potential equity partners and long-term customers.

Hancock is also thought to have approached Coal India about the state-owned coal giant's recent call for expressions of interest from miners looking to sell equity stakes in projects.

Alpha and Kevin's Corner are at an early stage, with the submissions marking the start of the environmental approval process.