Glencore decides to cancel Valeria coal mine development
Time:Tue, 20 Dec 2022 06:38:05 +0800
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Glencore PLC, one of the world's largest globally diversified natural resource companies, announced that it had canceled Valeria coal mine in Australia's Queensland state because the state royalties hiking and uncertain global situation made investors' confidence reduce.
Valeria coal mine can produce up to 20 million tons of thermal and metallurgical coal annually for 37 years.
The decision was in line with Glencore's strategy to reduce greenhouse gas emissions and reach net zero by 2050.
