Whitehaven Coal’s (ASX:WHC) Vickery extension project gets the green light

Whitehaven Coal (ASX:WHC) has today welcomed the decision by the NSW Independent Planning Commission (IPC) to green light its Vickery Extension Project near Gunnedah, in the state’s northwest.

The primary approval follows a lengthy technical evaluation process for the project and a comprehensive program of community consultation and outreach, including a Multi-stage Public Hearing administered by the IPC during February 2019 and July 2020.

The NSW Department of Planning, Industry and the Environment had previously concluded the Vickery Project was “in the public interest and…approvable.”

Vickery will be a predominantly metallurgical coal mine and will service established and emerging markets for high quality coal in the region.

Vickery will entail capital expenditure of $700 million is expected to generate employment for 500 people during the construction phase and 450 ongoing operational roles.

Shares in Whitehaven Coal (ASX:WHC) are trading 0.73 per cent higher at $1.38.
 
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Source: Finance News Network