WaterNSW has blasted plans to expand a coal mine in Greater Sydney's catchment that have won approval from the Berejiklian government despite the likely loss of billions of litres of water a year.
The future of the two main coal mines digging under Sydney's water catchment hangs in the balance with one closing for two months because of weak demand and the other seeking approval to expand.
Australian miner South32 has flagged nearly $130 million of write-downs amid doubts about the economic viability of its manganese alloy smelters.
Disappearing creeks,bulging valleys,a shifting dam wall and a dearth of monitoring are among the reasons to halt coal mining in Greater Sydney's catchment.
Australian miner South32 has announced deep cuts to shore up its position amid the spreading coronavirus pandemic.
In a letter to the Planning Department last month,WaterNSW said the extension of South32's Dendrobium underground mine could also trigger rock fracturing and potential water losses.
The National Parks Association says the announcement is encouraging but fears it may be mere"window dressing for business as usual".
The local market has surged in early trade,with all sectors gaining ground after Wall Street hit new record highs overnight.
Falls in the share prices of the big miners,and a number of property,industrial,and utility stocks going ex-dividend weighed on the local market.
A commodity price surge and fresh overnight records on Wall Street led Australian stocks higher on Friday.
BHP chief executive Andrew Mackenzie will hand a group in good shape but with some challenges to his successor,Mike Henry on December 31.