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POSCO to push ahead with Hume coal mine development in Australia

POSCO plans to push forward with the development of the Hume coal property, with the South Korean steel giant filing environmental approval documents with the New South Wales government, The Australian Financial Review reported April 2.

The documents outline plans for a A$498 million mine development, which aims to extract about 3 million tonnes of coal per annum, with initial exports anticipated around 2021.

The project has faced opposition due to its possible impacts on underground water supplies in the area; the project's peak water consumption is estimated at 2.29 billion liters per year.

According to the company's environmental impact study, the 93 private landowner bores on 71 properties will experience a drawdown of two meters or more due to the project, with affected bore owners to receive compensation.

In May 2016, POSCO backed down from appealing an Australian court decision to block access to five properties within the area of the exploration license covering the Hume project.