Whitehaven Coal hopes to deliver first sales from its Maules Creek mine next year after receiving final approval to build the $767 million project in north west NSW.

Whitehaven received the final requisite approvals needed to begin construction on Thursday following a three year approvals process.

The federal government gave conditional approval for the project in February this year.

Whitehaven is permitted to extract up to 13 million tonnes of coal per annum and rail 12.4 million tonnes from the site each year.

First coal sales are expected by the second half of 2014.

Managing director Paul Flynn said preparation of the mine site, near Boggabri, would begin next week.

“The project is one of the most significant investments currently underway in regional NSW,” he said in a statement.

“It expects to employ 340 full time equivalent employees and contractors in the construction phase and approximately 470 during ongoing operations.”

Whitehaven expects $767 million will be spent on construction of the mine, which will be shared amongst Whitehaven and the other stakeholders in the project, Japan’s Itochu and J-Power.

Whitehaven shares gained four cents, or 1.8 per cent, at $2.28.