Billionaire Philanthropist to Trade Coal Technology for End to Slavery

The Australian reported that Andrew Forrest, a billionaire philanthropist, has signed an agreement with Pakistan’s Punjab state to test the feasibility of turning lignite coal into diesel. In return, Pakistan will bring in laws aimed at eliminating slavery via “indenture, debt or inheritance.”

As quoted in the market news:

‘The goal is energy independence for the Punjab and the eradication of slavery in all of the Punjab, a province of 100 million,’ Mr Forrest said.

The Punjabi Chief Minister, Shabaz Sharif, welcomed the deal and said he was pleased to announce that the Punjab was the first province to commit to becoming the first Pakistani province to eradicate slavery.

Under the agreement, mining experts from Australia will investigate the possibility of using the Punjab’s huge deposits of lignite coal which is low-grade and not commercially viable at the moment. But if the coal can be developed through new technology at a cost of $US40 a barrel it can be used to produce diesel.

Click here to read the full report from The Australian.

Click here to learn more about lignite.