Mr Colin Jensen coordinator general of Queensland has declared Boulder Steel Limited's Gladstone Steel Project to be a Significant Project for which an Environmental Impact Statement is required. A Significant Project benefits from a streamlined approvals process across the whole of government and ensures that the Queensland government will become involved in expediting the various processes and infrastructure improvements necessary for the project to go ahead.

Mr Jensen said that the project is proposed to be developed in two stages with the initial export of 2.1 million tonnes per annum of steel product in late 2012 increasing to 5 million tonnes per annum in the second stage. Each stage is expected to cost USD 1.4 billion to construct. He added that "It is important for the public to know that a significant project for which an EIS is required is not an indication of approval or support for a project. Rather it signals the beginning of a rigorous assessment of the project’s impacts on the natural, social, economic, built and cultural environment. The first opportunity for the public to have their say will be when the draft terms of reference for the EIS are released in the near future."

Mr Carl Moser director & GM of Boulder Steel said that "Formal recognition of the importance of the project to Queensland is a significant milestone. This declaration is the result of the fruitful co operation which has evolved between Boulder Steel and various levels of the Queensland Government."

He added that "Taking into account the current market environment, the fundamentals of building an iron and steel plant at Gladstone remain robust and the Significant Project declaration is an affirmation of the importance that the Queensland government attaches to the development of the project further supporting the significance of Boulder's vision."

Mr Stirling Hinchliffe minister for infrastructure & planning said that "This proposed steel making facility has the potential to create 1500 construction and 1150 long term jobs in Gladstone. There is also the potential for 1800 jobs to be generated throughout the Central Queensland economy for services to support the project. This project would generate a new industry base in Central Queensland and improve the skill base of the labor pool."