GVK Wins Gov't Approval For $4.2B Australian Coal Mine

Law360, New York (November 01, 2013, 12:20 PM ET) -- Australia's federal government approved Indian conglomerate GVK's construction of the $4.2 billion Kevin's Corner coal mine complex in Queensland, the company announced Friday, despite protesters' attempts to stop the project over water and climate change concerns.

GVK predicts that the mine contains 8 billion tons of coal low in ash, sulfur and gas that could be extracted at 30 million tons per year. The project took five years to approve and GVK bought a full stake in it in 2011, expecting to start building by 2015 and...
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