Noosa News
Shenhua tipped to scrap Watermark mine as NSW points to ‘changed’ financial landscape
A resources analyst has predicted Shenhua will drop its controversial proposal for the 10-million tonne Watermark coal mine on the NSW Liverpool Plains.
Key points:
- Shenhua Energy has sought an extension for the first $200m instalment of its lease
- China has committed to achieving net zero carbon emissions by 2060
- John Barilaro says the environment in relation to mining “has changed a little bit”
The forecast cames after NSW Deputy Premier and Industry Minister John Barilaro revealed the company had received an extension to pay the first $200 million instalment of its lease.
The Chinese state-owned Shenhua Energy made an eleventh hour application for a mining licence to the NSW Government in June 2020, which remains under review.
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