Whitehaven Coal is wary of investing in its development projects due to turbulent coal markets that have been amplified by Chinese restrictions on imports from Australia.
Subdued coal markets have forced Whitehaven Coal to be cautious in allocating its capital to expansion, the company stated in its September quarterly report.
Whitehaven Coal expects to receive a government approval for its Vickery extension project in New South Wales in the next few weeks.
Whitehaven Coal chairman Mark Vaile has talked up two significant, near-term assets that will underpin the company’s future growth – Vickery in New South Wales and Winchester South in Queensland.
Whitehaven Coal is set to acquire EDF Trading Australia for US$72 million ($106.5 million), allowing the company to increase its stake in the Narrabri mine in New South Wales.
Whitehaven Coal has beaten its production guidance for the 2019 financial year on the back of strong performance at its New South Wales mines.
Whitehaven Coal has recorded an increase in coal output following the release of their September quarterly report.
Whitehaven Coal’s $767 million Maules Creek mine has been officially opened by Federal Minister for Industry and Science, Ian MacFarlane.
Coal trains have resumed travelling to the Port of Newcastle this afternoon after being stranded for over two hours after an activist chained himself to the rail line.
Mining activists said they have stopped coal trains from reaching the Port of Newcastle with a man chained to the rail line.
Australian Mining has put together a timeline of the key events in the ongoing Whitehaven Maules Creek battle.
The Gomeroi People have responded to the NSW Minerals Council CEO’s lobbying for the future of the Maules Creek coal mine.
Protesters clashed with staff at Whitehaven Coal’s Boggabri office yesterday as anti-mining activism took a violent turn.
NSW Police have used a cherry picker to dismantle a massive tripod and rescue its occupant as tensions at the Maules Creek mine protest intensify.