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The explorer is seeking expressions of interest in its wholly owned permit EPC 1164, which neighbours Xstrata’s giant Wandoan project, after the Swiss mining giant received federal government environmental approval to develop the Surat Basin mine last week.
SinoCoal, a subsidiary of China National Coal Group, has pre-emptive rights to all of MetroCoal’s exploration permits.
MetroCoal aims to be the first company to bring longwall mining to Queensland’s Surat Basin. Chief executive Mike O’Brien was general manager of the South Bulli longwall mine in 1991-92.
MetroCoal shares are unchanged at 31c this morning.
