Australia may lose $45 billion amid green steel rush, report says
Australia accounts for 56% of seaborne iron ore trade.
Shenhua’s proposed coalmine in New South Wales lacks sufficient data for project approval and could “poison two thirds of the Murray-Darling” river basin, according to an independent assessment paid for by local farmers and agricultural groups.
Caroona Coal Action Group chief Tim Duddy claimed that Shenhua should not have been granted an exploration license because their EIA contained serious “gaps” in information.
“Either Shenhua does not understand what is involved in genuine environmental protection in a precious area like this or doesn’t take that obligation seriously.”
Mr. Duddy says that the assessment will be passed along to state and federal officials for review.
Shenhua paid $300 million for its exploration license in 2008 during the tenure of infamous mining minister Ian Macdonald.
