Sydney: The Australian Federal Police (AFP) on Monday charged six people over the country`s biggest cocaine haul, which was discovered when authorities intercepted a yacht off the New South Wales (NSW) coast, the media reported.


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More than 1.4 tonnes of the drug was seized with an estimated street value in excess of 312 million Australian dollars (about $239 million), the Australian Broadcasting Corporation (ABC)reported.


The AFP said the arrests marked the end of a joint two-and-a-half-year investigation into an alleged drug network, described as a "trans-national" operation.


Police have alleged the yacht travelled from New Zealand last month to a ship in the South Pacific to pick up the drugs and bring them to Australia.


Federal Justice Minister Michael Keenan confirmed it was the largest cocaine bust in Australia`s history.


He said a 63-year-old New Zealand man and a 54-year-old Swiss-Fijian dual national were arrested on board the yacht.


Three men, aged 63, 62 and 66, were arrested on the NSW south coast, while a 32-year-old man was arrested in Sydney.


During the last 18 months, more than 11 tons of drugs have been blocked from entering Australia, according to official said.