Delays … an approval for the Liverpool Plains mine took seven months. Photo: Louise Kennerley
THE Chinese government has delivered a damning verdict on doing business in NSW, pulling the plug on a planned $10 billion in mining-related investments across Australia.
The Shenhua Group, which has spent $600 million developing a coal mine in Gunnedah, in northern NSW, will no longer pursue plans to spend a further $9 billion across the country, The Sun-Herald has learnt.
According to mining industry sources, Shenhua told the department of the federal Resources Minister, Martin Ferguson, that it would take its money elsewhere. The energy company will instead invest in mining projects in Africa and closer to home in Mongolia.
The Sun Herald
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