Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".Can't wait for Copenhagen 2 for them to explain this.
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.
Can you blame them? They get a lot of electric power from coal, and their demand for electricity is increasing.
The only surprising thing was that Obama really thought he could get China to give up on stuff like this because he is so "lovable" or whatever the hell he thinks.