Queensland government signs off on Whitehaven coal project
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The news: Queensland's Coordinator General has approved Whitehaven Coal's Winchester South metallurgical coal project, subject to environmental conditions.
The numbers: The Winchester South project, purchased from Rio Tinto in 2018, is expected to extract 17 million tonnes of unprocessed production annually, from an estimated 380 million tonnes of reserves. It is adjacent to the Daunia mine, which Whitehaven is acquiring from the BHP Mitsubishi Alliance along with the Blackwater metallurgical coal mine. Whitehaven shares were trading 2.9% higher at $7.245 by 1:20pm AEDT.
The context: The Coordinator General has attached more than 70 pages of conditions to the project's approval relating to environmental issues such as air quality, water monitoring and waste. Environmental group Lock the Gate has criticised Whitehaven and the Winchester South project, claiming it would use 155 million litres of water per year and clear 2000 hectares of vegetation.
The sources: ASX Announcement, Coordinator General's Decision
