US GIANT SIGNS UP FOR COAL PROJECT

摘要

Aformer Queensland government geologist has lured giant US steelmaker Cleveland Cliffs into its first export coking coal project. Brisbane-based mining multi-millionaire Chris Wallin, 53, will use the 140 million dollars netted from selling a 45 per cent stake in the project to develop the 97 million tonne Sonoma mine, 6km south of Collinsville in north Queensland. Mr Wallin, who discovered the Coppabella deposit now owned by Macarthur Coal, yesterday said the project, owned by his private company QCoal, initially would produce 2 million tonnes a year with production likely to start at the end of this year.