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Australia to pay China's Shenhua Energy A$262m to buy back mining licence

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Shenhua says that it is disappointed by the government's move but says the buyback is an acceptable financial outcome.

Sydney

AUSTRALIA'S New South Wales state said on Wednesday it would buy back half of a coal exploration licence from China Shenhua Energy Co Ltd, bowing to pressure from farmers and environmentalists opposed to mining on prime agricultural land.

The government of Australia's most

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