Queensland coal explorer Cuesta Coal says it has received approval to explore tenements in which it has a joint stake with a company controlled by Gina Rinehart's Hancock Prospecting.

QCI (Galilee) Pty Ltd, a wholly owned subsidiary of Hancock Prospecting, will be able to earn up to a 51 per cent interest in the Snake Creek Joint Venture for its two-stage, $3 million investment.

Cuesta Coal has a portfolio of thermal and coking coal exploration prospects within the Bowen, Surat and Galilee basins in Queensland.

The company's core projects are on 11,000sq km of exploration ground.

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