Canberra: mining magnate Queensland Clive Palmer said Saturday the largest Australian coal exports deal with China.
Resources of the House Speaker has informed the company had a 20-year contract with one of the largest energy companies in China made China Power International Development, the flagship of China Power Investment Corporation (CPI).
This agreement with the consumer price index is the largest ever contract in Australia on exports, Palmer, said in a statement.
This is the largest single non-Australian syndicated financing agreement and the interest of China, the strength of this project and its benefits for Queensland and Australia to develop a new world-class coal region, such as the Galilee Basin, he told reporters.
There will be four underground mines and two mines in an open design, he said.
Meanwhile, Queensland Premier Anna Bligh said there is a bureaucratic environment, to negotiate before the draft was approved, but do not expect problems in the last minute.
There is global demand, is an opportunity for businesses, said Bligh.
More than 100 million additional tons of coal could be exported in Queensland each year because of new projects under consideration by the provincial government.
