Whitehaven Gains Approval to Build $789 Million Maules Creek Mine

Bloomberg reported that Whitehaven Coal stock price surged to a near two-month high on news that they have received approval to build the $789 million Maules Creek mine.

As quoted in the market report:

Australia’s Environment Minister Tony Burke yesterday approved Whitehaven’s proposed Maules Creek coal mine in New South Wales state, while asking for additional work including limiting clearance of vegetation to minimize its environmental impact. The government also approved Idemitsu Kosan Ltd.’s Boggabri mine and AGL Energy Ltd.’s Gloucester coal seam methane project.

To view the whole Bloomberg report, click here.