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Glencore secures mining leases for Wandoan project

Glencore Plc received the mining leases for its A$7 billion Wandoan coal project in Queensland, years after the miner shelved the project due to low commodity prices at the time and a global movement to fight climate change.

Queensland's natural resources and mines minister, Anthony Lynham, approved three 27-year leases for the first phase of the 30,000-hectare project, according to an Aug. 9 statement.

Mine output could reach 22 million tonnes of thermal coal annually, once operational. The project will be the first of such scale in the Surat Basin.