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Korea Resources Wins Mining Leases For Long-Delayed Australian Coal Project

Coal News - Published on Tue, 25 Jun 2019

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Reuters reported that an Australian state granted mining leases for a coal mine controlled by Korea Resources Corp, clearing the way for a project that green groups and some local communities have battled for more than a decade. The final approval from the New South Wales state government follows a surprise victory for the pro-coal conservative government in an Australian election in which climate change had been a key issue.

The state's government said in a statement that "The project involves a capital investment of over AUD and will create more than 1,700 direct and indirect jobs." The election outcome has put pressure on state governments that had been opposed to new coal mines to clear the way for projects that have long been held up, to create new jobs.

Mr Stephen Galilee, New South Wales Minerals Council Chief Executive, said that "This is a very positive sign that the recently re-elected NSW Government is serious about backing regional jobs and investment during the term of this Parliament."

Neighbouring Queensland state last week cleared the way for Indian conglomerate Adani Enterprises' Carmichael mine.

Project manager Kenny Barry said that Kores, leading the Wyong Areas Coal Joint Venture, plans to dig an underground mine to produce up to 5 million tonnes a year of thermal coal for power stations over 28 years, aiming to start production in late 2022 or early 2023.

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Posted By : Mohan Sharma on Tue, 25 Jun 2019
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