- Whitehaven Coal (WHC) says its Vickery Extension Project has been approved by the Federal Environment Minister
- WHC’s proposed open-cut coal mine has been approved under the Environment Protection and Biodiversity Conservation Act 1999
- This latest approval follows Whitehaven getting the green light from the NSW Independent Planning Commission in August last year
- Whitehaven says its mine in Northern NSW will produce a majority of metallurgical coal for steel-making, including high-quality thermal coal
- Company shares are trading 2.65 per cent in the green at $3.10 per share at 1:40 pm AEST
Whitehaven Coal’s (WHC) Vickery Extension Project has been approved by the Federal Environment Minister.
Vickery is WHC’s proposed open-cut coal mine located 25 kilometres north of Gunnedah, in Northern NSW.
The company plans to produce a majority of metallurgical coal for steel-making, including high-quality thermal coal for export.
The energy stock’s mine has now been approved under the Commonwealth’s Environment Protection and Biodiversity Conservation Act 1999.
WHC said the approval was significant as it concluded a five year process of trying to get the project approved by both the State and Federal Govermments.
Whitehaven received the green light for Vickery from the NSW Independent Planning Commission in August last year.
In response to the latest approval, the company said in a statement on Thursday it believed there was a growing demand for higher-quality coal.
“Against the current backdrop of record high coal prices and strong demand in seaborne markets, the company sees a continuing role for high-quality coal of the type Vickery will produce in contributing to global CO2 emissions reduction and containment efforts while simultaneously supporting economic development in our near region,” WHC said.
Whitehaven Coal shares were trading 2.65 per cent in the green at $3.10 per share at 1:40 pm AEST.