AUSTRALIA APPROVES $5.7-BILLION COAL PROJECT

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SYDNEY: Waratah Coal welcomed the Australian government’s approval of its $6.4-billion (US$5.7-billion) Galilee coal project. Brisbane-based Waratah Coal, which is owned by one of Australia’s richest men and new federal politician Clive Palmer, plans to build a thermal coal mine in the Galilee Basin coal region. The mine will be linked to a proposed coal terminal at Abbot Point by a new 453-kilometer railway line, and Waratah said the entire project would create thousands of jobs.

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AFP

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