London | Rio Tinto and Oxiana veteran Owen Hegarty's six-year bet on a controversial £165 million ($296 million) metallurgical coal project in northern England has paid off.
West Cumbria Mining, owned by Mr Hegarty's private equity vehicle EMR Capital, got the nod for its Woodhouse Colliery from Cumbria County Council on Friday (Saturday AEST), in the face of a spirited campaign by community and climate activists.
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Hans van Leeuwen is The Australian Financial Review’s former Europe correspondent. He is now International Economy editor for The Telegraph UK.
