Australia’s New South Wales government said Wednesday it has suspended two coal development cases, although a new territory has been opened for coal exploration. China Shenhua has been trying to develop the Watermark power coal and semi-soft coking coal mines since 2008. The news comes after it was revealed that the New South Wales government in Australia is considering contributing hundreds of millions of dollars to buy back the mining licenses sold to China.
Australia’s New South Wales will take back China Shenhua’s Watermark Coal mining license for A$100 million, Reuters reported today. The New South Wales government will pay China Shenhua Energy A$100 million ($77.17 million) to withdraw its mining license for its Watermark Coal project in the Hunter Valley north of Sydney, according to a statement.
In a separate statement, the New South Wales government also rejected Australian Pacific Coal’s application to convert an underground coal mine into an open-pit mine, saying the move had met with community opposition. According to the government statement, “This ruling will give local farmers and the Liverpool Plains community a sense of certainty, while ensuring that parcels of land with high biodiversity value are protected.”
According to the report, China Shenhua has attempted to develop the Watermark power coal and semi-soft coking coal mines since 2008.
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