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Australian state approves $700mn coking coal mine

Published Updated

MELBOURNE: Australia's Queensland state government on Tuesday said it had approved a new A$1 billion ($694.70mn) coking coal mine, with construction to start next year.

The Olive Downs mine, owned by privately-held Pembroke Resources, will produce coking coal from the Bowen Basin.

The commodity is in high demand for use in steel production in Asia.

Copyright Reuters, 2019

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