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Waratah Coal Will Continue To Pursue Abbot Point Terminal Plans

SYDNEY -(Dow Jones)- Waratah Coal, an Australian explorer and developer controlled by billionaire Clive Palmer, said Monday it will continue to pursue plans to develop a stand-alone jetty and coal stockyard terminal within the Abbot Point state development area in Queensland state. The company confirmed it will push ahead with its plans after the state government Saturday withdrew its support for a A$9 billion expansion of the coal port, which would have grown the port to nine separate terminals with an overall capacity of 385 million metric tons. "The government's scaled back approach will now provide an extra two new wharfs at Abbot Point for future Galilee and Bowen basin coal producers, for which Waratah will seek interim capacity," it said in a statement. Other so-called preferred respondents selected to build terminals at the site included Anglo American PLC (AAL.LN), Rio Tinto PLC (RIO), Vale S.A. (VALE), a consortium of Peabody Energy Corp. (BTU), New Hope Corp. (NHC.AU) and Carabella Resources Ltd. (CLR.AU), and a local subsidiary of China's Meijin Energy Group, MacMines AustAsia. Anglo-Australian mining company Rio Tinto, however, recently said it would withdraw from the project. -By Rhiannon Hoyle, Dow Jones Newswires; 61-2-8272-4625; rhiannon.hoyle@dowjones.com

Stock News for Companhia Vale (RIO)
DateTimeHeadline
04/20/201518:00:30EUROPE MARKETS: European Stocks Buoyed By China Stimulus Move;...
04/20/201517:59:57LONDON MARKETS: Miners Lead Gains On FTSE 100 As China Aims To...
04/20/201517:34:32LONDON MARKETS: Miners Lead Gains On FTSE 100 As China Moves...
04/20/201511:04:55EUROPE MARKETS: European Stocks Buoyed By China Stimulus Move...
04/20/201506:49:53EUROPE MARKETS: European Stocks Buoyed By China Stimulus Move...
04/20/201504:10:49LONDON MARKETS: Miners Lead Gains On FTSE 100 As China Moves...
04/17/201513:59:45LONDON MARKETS: FTSE 100 Driven Lower On China-trading Concerns
04/17/201513:59:19EUROPE MARKETS: European Stocks Mauled By China, Greek Worries;...
04/17/201509:56:59LONDON MARKETS: FTSE 100 Driven Lower On China-trading Concerns
04/17/201509:22:42LONDON MARKETS: FTSE 100 Driven Lower On China-trading Concerns
04/16/201511:05:023 Reasons the Internet of Things Is Set to Boost This Giant Miner's...
04/16/201508:00:41Harworth Group Buys Site of Former Lynemouth Smelter From Rio...
04/16/201507:44:04Fortescue Says Can Withstand Slump in Iron Ore Prices--2nd Update
04/16/201504:25:34Fortescue Says Can Withstand Slump in Iron Ore Prices--Update
04/15/201515:57:48Copper Producers, Analysts Differ on When Prices Will Rise
04/15/201511:12:30Australia Shares End Lower as Data Dampen Sentiment
04/15/201505:03:09LONDON MARKETS: FTSE 100 Moves Higher As Miners Gain; U.K. Inflation...
04/14/201514:09:01LONDON MARKETS: FTSE 100 Wavers As Downgrades Hit BP, Primark...
04/14/201510:08:35Fortescue Overhauls Worker Rosters to Cut Costs -- Update
04/14/201507:58:25S&P warns on global miners including BHP, Rio, Vale

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