The mine is estimated to produce 4.5 million tons per annum (Mtpa) over its life of around 30 years.
Whitehaven said that the Vickery project will become a low capital startup for the company and the infrastructure is underway.
However, the startup of Vickery is yet to be determined, and is unlikely to occur before the Maules Creek Project reaches full production capacity of 13Mtpa.
Whitehaven managing director and CEO Paul Flynn said that the Vickery Project approval is a significant positive step for Whitehaven as it provides another growth option for the company following the development of the Maules Creek.
"Whitehaven can now seek to form a joint venture for this long life development which will produce Maules Creek quality coal."
Maules Creek, which commenced production in August this year, is scheduled for first coal to be railed in March 2015.
