China Coal Group is allowed to enter Australia to develop coal resources

Recently, China Coal Import and Export Corporation, a subsidiary of China Coal Group, obtained the "China Coal Resources Co., Ltd. of Australia" and "Certificate of Overseas Investment of Enterprises" issued by the Ministry of Commerce. The company will co-explore the Columbul project in the Sura Basin, Queensland, Australia, with the Australian Urban Coal Company using a non-corporate contractual approach (absolutely controlled by the Chinese company).

The coal seam of the Columbul project is estimated to have more than 10 billion tons of resources. Initially plan a mine with an annual output of 10 million tons, open-air and well-workers in cooperation with the mining; later the construction of three equal-scale mines, forming an annual output of 40 million tons of mining areas.