Australia's New Hope clears environmental hurdle at coal project
(Adds details, background)
March 12 (Reuters) - New Hope Corp Ltd said on
Tuesday its New Acland coal mine project has cleared an
environmental hurdle in the Australian state of Queensland and
can now seek further permits to begin operations.
The permit issued by the Queensland Department of
Environment and Science sets a number of tough conditions for
the stage 3 project, the company said in a statement.
New Hope said it now needed mining leases and a related
water license from the government before it could begin
With coal reserves at its Jeebropilly mine expected to run
out by late 2019, New Hope has shifted its focus to the larger
reserves at its New Acland mine, according to its 2018 annual
The miner said it expects the New Acland project to generate
about A$7 billion ($4.95 billion) in economic activity over the
expected 14-year life of the project.
($1 = 1.4148 Australian dollars)
(Reporting by Rashmi Ashok in Bengaluru; editing by Richard
Pullin and Darren Schuettler)
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