THE approval process is now under way for a $40 million coal mine at Fingal Valley, which would almost triple Tasmania's coal production.
Hardrock Mining lodged applications with the Break O'Day Council, Mineral Resources Tasmania and the Environmental Protection Agency before Christmas.
If approved, the company estimates the mine will deliver an economic benefit to the North equivalent to 650 jobs when fully operational.
``The intention is to be in a position to extract a million tonnes of coal a year .... by in and around the first quarter of 2014,'' chief executive officer Craig Astill said.
According to the Bureau of Resources and Energy Economics, Tasmania produced 620,000 tonnes of saleable coal last financial year.
Hardrock hopes to be earning a minimum of $100 million from the mine in its first year.
Residents will be able to comment on the mine when its development application is put on public display.