8th World Antimony Forum

TBD
Guiyang, Guizhou, China

12th Rare Earth Summit

TBD
Hangzhou, Zhejiang, China

11th Aluminum Raw Materials Summit

TBD
Hangzhou, Zhejiang, China

9th Magnesium Summit

TBD
Hangzhou, Zhejiang, China

13th World InBiGeGa Forum

TBD
Hangzhou, Zhejiang, China

7th World Antimony Forum

June 13-14, 2019
Changsha, Hunan, China

7th Refractory & Abrasive Materials Summit 2019

May 23-24, 2019
Qingdao, Shandong, China

10th Aluminum Raw Materials Summit

May 16-17, 2019
Zhengzhou, Henan, China

11th Rare Earth Summit

May 9-10, 2019
Qingdao, Shandong, China

8th Magnesium Summit

April 11-12, 2019
Zhuhai, Guangdong, China

12th World InBiGeGa Forum

March 14-15, 2019
Zhuhai, Guangdong, China

Giant Glencore coal mine faces threat as fund refuses backing

2020-09-21 11:58:02   【Print】
Glencore Plc's plans for a giant new coal mine in Australia's Bowen Basin may suffer a setback after key stakeholder UniSuper Management Pty said it won't support the project.

The A$80 billion ($59 billion) pension fund told its investment partners that it won't support the A$1.5 billion Valeria project as the economics don't stack up, Chief Investment Officer John Pearce said last Thursday night.

Glencore is the largest coal miner in Australia, the top exporter of the fuel, and UniSuper's move may hinder the company's plan to replace operations nearing retirement. Valeria is slated to produce about 4% of Australia's thermal and metallurgical coal when it starts up, which the company earlier this year pegged at 2026.

UniSuper's approval isn't necessary for the Valeria project to proceed, Glencore said. "UniSuper has an indirect minority interest," the company said.Asian Metal Copyright5 billion Valeria project as the economics don't stack up, Chief Investment Officer John Pearce said last Thursday night.Asian Metal Copyright "UniSuper was an existing JV partner attached to the resource when we acquired it from Rio Tinto Group more than two years ago."

.Asian Metal Copyright Glencore is the largest coal miner in Australia, the top exporter of the fuel, and UniSuper's move may hinder the company's plan to replace operations nearing retirement.Asian Metal Copyright