A Chinese company has suspended its bid to develop a large coal mine next door to Adani's proposed operation in Queensland.
"MacMines has voluntarily not progressed their five mining lease applications for the China Stone project," the Department of Natural Resources, Mines and Energy has told the ABC. MacMines chief executive Russell Phillips told the ABC the project's future was under discussion and he wasn't in a position to elaborate.MacMines still holds an exploration permit and can reapply for mining leases in the future.
Deputy Premier Jackie Trad said she hadn't been given the intimate details for the company's decision to discontinue its applications.Asked about what it said about investor confidence in Queensland, she said mine projects must stack up environmentally and economically.
Someone else will pick it up. The business is sound.
Environmentalists terrorising business opportunities and costing jobs.
The dollar is collapsing. The China has pulled out 10b worth of investments . Naaah ..
Probably scared off by the approval processes.
Stop repressing your people china and open up to the world it won’t hurt you but unless you do the world is now turning on you has gone on too long communism won’t last let the people b free open up your markets and be prosperous
So is this to make way for Clive Palmer's New coal mine to be fast tracked? No doubt he'll use someone else's money to pay for it.
So ... it takes China to stop this environmentally questionable project. The differences in approach ... Australia: democracy with lots of talk and no action. China: not a democracy, no talk, lots of action. Do we need more of China to save the planet?
Go Clivey !!
Because Coal is dying, but nooooo... idiots here just don't get it.