Newman Blocks Mining Projects

by Editor

Newly elected Queensland Premier, Campbell Newman has blocked 2 mining projects.  New Hope Corporation Ltd planned to increase its coal production with 1 of these projects.  The other project was from French firm Ambre Energy.  The Liberal National Party states that this is decision is consistent with their pre-ection position.

News Source: BUSINESS SPECTATOR 

 

Newman to Block 2 Mining Projects

Newly-elected Queensland Premier Campbell Newman’s government has vetoed two significant coal projects, declaring large swaths of farmland off-limits for mining activity, according to a report by The Australian.

New Hope Corporation Ltd had planned to double its coal production to 10 million tonnes, while a $3 billion coal-to-liquids project on farmland at Felton will be opposed by Mr Newman.

The coal-to-liquids project, by French company Ambre Energy, was pitched as having the capacity to supply one-fifth of Queensland’s unleaded petrol and LNG needs, the report said.

“This has been the LNP’s stated position during the election campaign and we will continue to work with the new LNP government,” a spokesman for New Hope said, according to The Australian.

The spokesman did not say whether the company would revise its mining proposal in the hopes of reaching a compromised solution.

Ambre Energy said it would continue to pursue its hope for a coal-to-liquid project, the report said.

What do you think?  Did the new Queensland Premier make the right decision?

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