Australia signs huge China coal deal

An Australian firm has signed a $60bn (AUS$69bn;

Under the deal, the firm will build a new mining complex to give China Power International Development (CPI) 30m tonnes of coal a year for 20 years.

Analysts say it is further evidence of China’s strong demand for resources boosting Australia’s economy.

Most of China’s power stations rely on coal – and demand has risen sharply in recent months after a government stimulus programme re-energised its economy.

BBC