22
Apr
08:03
China Shenhua abandons Australian coking coal mine
Shenhua Group, a subsidiary of China National Energy Group, has announced through its listed company that it will withdraw from the development of the thermal and semi-soft coking coal mine at Watermark in Australia. It will transfer land back to Australia's New South Wales (NSW) government for AUD 100 million ($77.53 million).
China's suspension of Australian coal imports and the worsening coal price outlook have eroded the mine's competitiv…
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