The Australian government approved the third-stage expansion of Whitehaven Coal's (ASX:WHC) Narrabri project in New South Wales after "significant delays," the company said in a Wednesday filing with the Australian bourse.
The environmental impact statement for the project was lodged in October 2020.
The project is expected to extend the life of the mine to 2044 from 2031, the filing stated.
The coal miner's shares were up almost 2% in recent Wednesday trade.
Price (AUD): $6.60, Change: $+0.12, Percent Change: +1.85%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.