Mining Magnate Clive Palmer Announces Queensland Coal Project - Stock Image

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BRISBANE, AUSTRALIA - MAY 27: Mining magnate Clive Palmer (R) attends a press conference announcing a new Queensland resource project called 'China First', which will see 1.4 billion tonnes of coal mined in the Galilee Basin, at the Stamford Plaza Hotel on May 27, 2009 in Brisbane, Australia. The AUD7.5 billion Galilee Basin thermal coal mine will also include railway and port development, creating more than 6000 construction jobs and around 1500 jobs once open in 2013. The project will rely heavily on funding from the Chinese Government-owned Metallurgical Corporation of China (MCC), who will invest 60% of the capital costs. (Photo by David Hardenberg)

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