The mining giant has been hit hard by the elements but says it’s well positioned to withstand the effects of bad weather and ongoing global economic uncertainty.
Australian coal miner Whitehaven has flagged record profits as Russia’s invasion of Ukraine drives coal prices higher,despite climate change concerns threatening the fossil fuel’s long-term viability.
Nationals politicians are questioning the Coalition’s net zero 2050 climate policy as Scott Morrison is campaigning on hydrogen in Queensland.
Australia promised Ukraine 70,000 tonnes of coal to help address its energy crisis but the logistics of how to ship it there are proving complex.
The Omicron surge is hitting Australia’s big exporters with Whitehaven coal confirming that pandemic-related staffing issues,and flooding in NSW,have triggered a downgrade to its production forecasts for the year and raised costs.
Whitehaven chairman Mark Vaile warns the global energy crisis is a reminder that investment in fossil fuels needs to continue for decades.
One of Australia’s top coal miners expects prices of the fossil fuel to stay strong for at least the next two years as a global supply crunch persists.
The global COVID-19 recovery is driving hot demand for Australian coal,but big threats loom for the fossil fuel as decarbonisation goals accelerate.
Environment Minister Sussan Ley has approved a coal mine which was the subject of a court case to determine whether she has a duty of care to protect children from global warming.
The company was convicted for 19 breaches at its Maules Creek coal mine in northern NSW,although the fines fell far short of the maximum penalties it faced.
The former Nationals leader’s appointment as chancellor was met with significant backlash from staff,students and potential donors.