Latest news with #WhitehavenCoal
The Advertiser
03-08-2025
- General
- The Advertiser
'Dazzling' parrot on brink of extinction threatens coal mine expansion
A parrot on the brink of extinction could thwart plans for an open cut coal mine expansion after records of the bird were discovered to be missing from the key database of species sightings. As few as 500 critically endangered swift parrots are thought to be left in the wild, but the rare migratory species is a regular visitor to the Maules Creek Coal Mine area in north-eastern NSW. The operator, Whitehaven Coal, is applying to extend the life of the mine near Narrabri by a decade to 2044. This expansion would mean the clearing of about 50,000 trees swift parrots use for food, including large flowering white boxes, according to a new report commissioned by environmental group Lock the Gate. Ecologist and reporter author, John Muchan, found swift parrots - which migrate north onto mainland Australia each year from Tasmania - were regular visitors to Leard State Forest where Whitehaven plans to expand. "This return rate suggests the species is exhibiting high site fidelity to the Leard when flowering conditions are suitable," Mr Muchan said in the report. He also discovered 17 separate observations of the parrot in the region over the past 13 years, including by nearby coal mining operator Idemitsu, were missing from the BioNet Atlas. This is the NSW government's central database of species sightings which helps determine biodiversity management across the state. A spokesperson for the environment department said the records had since been updated with the observations Mr Muchan uncovered. "State government biodiversity databases are a critical resource to accurately inform ecological impact assessments," the ecologist told ACM, the publisher of this masthead. "Swift parrots are listed under the federal environment act as critically endangered - one step below extinct in the wild. "Of all the records to be included in - or missing from a database - those of federally listed critically endangered species are extremely important." Given the parrot's survival as a species is so precarious, the new report could affect Whitehaven's proposal to extract an extra 117 million tonnes of coal and clear 660 hectares of Leard State Forest to do it. The plan is on public exhibition as a state significant proposal while Whitehaven seeks federal environmental approval at the same time. "The [expansion site] is clearly within 'habitat critical to the survival' of the swift parrot as defined in the national recovery plan for the swift parrot," Mr Muchan said in his report. "Swift parrots have been recorded feeding on the nectar of flowering white box ... in the Leard on numerous occasions since 2012." He said it also qualified as a priority area for species under the NSW "saving our species" strategy - and the adjacent state forest should be listed as an important bird and biodiversity area to help ensure the swift parrot survives beyond the decade. A spokesman for Whitehaven said the company had taken recorded sightings of swift parrots in and around its Maules Creek mine into account already. "All of these records were comprehensively reviewed and considered by an independent expert as part of the environmental impact statement (EIS), including the observations that were not originally recorded in the NSW government's BioNet Atlas," he said. Sean Dooley from BirdLife Australia said the coal mine expansion would be "detrimental". "Due to our inadequate national nature laws, swift parrots continue to be pushed to the precipice of extinction," he said. "If we can't save a beautiful, charismatic and popular species - it won 'Bird of the Year' in 2023 - then what hope do we have for saving lesser known species." To lose any swift parrot habitat around Leard forest and Maules Creek would be "a cruel blow", Mr Dooley said. "It is a beautiful, dazzling parrot with a unique life history that is part of a whole suite of woodland birds that are in serious trouble," he said. "The trouble in protecting swift parrots is that they don't just rely on the same sites and habitat each year. "They move around according to the conditions. So you can't protect just a couple of sites and think the job is done." Lock the Gate, which campaigns against risky coal and gas mining, said about 40 per cent of Leard State Forest had now been cleared for three coal mines - Maules Creek, Tarrawonga, and Boggabri. A parrot on the brink of extinction could thwart plans for an open cut coal mine expansion after records of the bird were discovered to be missing from the key database of species sightings. As few as 500 critically endangered swift parrots are thought to be left in the wild, but the rare migratory species is a regular visitor to the Maules Creek Coal Mine area in north-eastern NSW. The operator, Whitehaven Coal, is applying to extend the life of the mine near Narrabri by a decade to 2044. This expansion would mean the clearing of about 50,000 trees swift parrots use for food, including large flowering white boxes, according to a new report commissioned by environmental group Lock the Gate. Ecologist and reporter author, John Muchan, found swift parrots - which migrate north onto mainland Australia each year from Tasmania - were regular visitors to Leard State Forest where Whitehaven plans to expand. "This return rate suggests the species is exhibiting high site fidelity to the Leard when flowering conditions are suitable," Mr Muchan said in the report. He also discovered 17 separate observations of the parrot in the region over the past 13 years, including by nearby coal mining operator Idemitsu, were missing from the BioNet Atlas. This is the NSW government's central database of species sightings which helps determine biodiversity management across the state. A spokesperson for the environment department said the records had since been updated with the observations Mr Muchan uncovered. "State government biodiversity databases are a critical resource to accurately inform ecological impact assessments," the ecologist told ACM, the publisher of this masthead. "Swift parrots are listed under the federal environment act as critically endangered - one step below extinct in the wild. "Of all the records to be included in - or missing from a database - those of federally listed critically endangered species are extremely important." Given the parrot's survival as a species is so precarious, the new report could affect Whitehaven's proposal to extract an extra 117 million tonnes of coal and clear 660 hectares of Leard State Forest to do it. The plan is on public exhibition as a state significant proposal while Whitehaven seeks federal environmental approval at the same time. "The [expansion site] is clearly within 'habitat critical to the survival' of the swift parrot as defined in the national recovery plan for the swift parrot," Mr Muchan said in his report. "Swift parrots have been recorded feeding on the nectar of flowering white box ... in the Leard on numerous occasions since 2012." He said it also qualified as a priority area for species under the NSW "saving our species" strategy - and the adjacent state forest should be listed as an important bird and biodiversity area to help ensure the swift parrot survives beyond the decade. A spokesman for Whitehaven said the company had taken recorded sightings of swift parrots in and around its Maules Creek mine into account already. "All of these records were comprehensively reviewed and considered by an independent expert as part of the environmental impact statement (EIS), including the observations that were not originally recorded in the NSW government's BioNet Atlas," he said. Sean Dooley from BirdLife Australia said the coal mine expansion would be "detrimental". "Due to our inadequate national nature laws, swift parrots continue to be pushed to the precipice of extinction," he said. "If we can't save a beautiful, charismatic and popular species - it won 'Bird of the Year' in 2023 - then what hope do we have for saving lesser known species." To lose any swift parrot habitat around Leard forest and Maules Creek would be "a cruel blow", Mr Dooley said. "It is a beautiful, dazzling parrot with a unique life history that is part of a whole suite of woodland birds that are in serious trouble," he said. "The trouble in protecting swift parrots is that they don't just rely on the same sites and habitat each year. "They move around according to the conditions. So you can't protect just a couple of sites and think the job is done." Lock the Gate, which campaigns against risky coal and gas mining, said about 40 per cent of Leard State Forest had now been cleared for three coal mines - Maules Creek, Tarrawonga, and Boggabri. A parrot on the brink of extinction could thwart plans for an open cut coal mine expansion after records of the bird were discovered to be missing from the key database of species sightings. As few as 500 critically endangered swift parrots are thought to be left in the wild, but the rare migratory species is a regular visitor to the Maules Creek Coal Mine area in north-eastern NSW. The operator, Whitehaven Coal, is applying to extend the life of the mine near Narrabri by a decade to 2044. This expansion would mean the clearing of about 50,000 trees swift parrots use for food, including large flowering white boxes, according to a new report commissioned by environmental group Lock the Gate. Ecologist and reporter author, John Muchan, found swift parrots - which migrate north onto mainland Australia each year from Tasmania - were regular visitors to Leard State Forest where Whitehaven plans to expand. "This return rate suggests the species is exhibiting high site fidelity to the Leard when flowering conditions are suitable," Mr Muchan said in the report. He also discovered 17 separate observations of the parrot in the region over the past 13 years, including by nearby coal mining operator Idemitsu, were missing from the BioNet Atlas. This is the NSW government's central database of species sightings which helps determine biodiversity management across the state. A spokesperson for the environment department said the records had since been updated with the observations Mr Muchan uncovered. "State government biodiversity databases are a critical resource to accurately inform ecological impact assessments," the ecologist told ACM, the publisher of this masthead. "Swift parrots are listed under the federal environment act as critically endangered - one step below extinct in the wild. "Of all the records to be included in - or missing from a database - those of federally listed critically endangered species are extremely important." Given the parrot's survival as a species is so precarious, the new report could affect Whitehaven's proposal to extract an extra 117 million tonnes of coal and clear 660 hectares of Leard State Forest to do it. The plan is on public exhibition as a state significant proposal while Whitehaven seeks federal environmental approval at the same time. "The [expansion site] is clearly within 'habitat critical to the survival' of the swift parrot as defined in the national recovery plan for the swift parrot," Mr Muchan said in his report. "Swift parrots have been recorded feeding on the nectar of flowering white box ... in the Leard on numerous occasions since 2012." He said it also qualified as a priority area for species under the NSW "saving our species" strategy - and the adjacent state forest should be listed as an important bird and biodiversity area to help ensure the swift parrot survives beyond the decade. A spokesman for Whitehaven said the company had taken recorded sightings of swift parrots in and around its Maules Creek mine into account already. "All of these records were comprehensively reviewed and considered by an independent expert as part of the environmental impact statement (EIS), including the observations that were not originally recorded in the NSW government's BioNet Atlas," he said. Sean Dooley from BirdLife Australia said the coal mine expansion would be "detrimental". "Due to our inadequate national nature laws, swift parrots continue to be pushed to the precipice of extinction," he said. "If we can't save a beautiful, charismatic and popular species - it won 'Bird of the Year' in 2023 - then what hope do we have for saving lesser known species." To lose any swift parrot habitat around Leard forest and Maules Creek would be "a cruel blow", Mr Dooley said. "It is a beautiful, dazzling parrot with a unique life history that is part of a whole suite of woodland birds that are in serious trouble," he said. "The trouble in protecting swift parrots is that they don't just rely on the same sites and habitat each year. "They move around according to the conditions. So you can't protect just a couple of sites and think the job is done." Lock the Gate, which campaigns against risky coal and gas mining, said about 40 per cent of Leard State Forest had now been cleared for three coal mines - Maules Creek, Tarrawonga, and Boggabri. A parrot on the brink of extinction could thwart plans for an open cut coal mine expansion after records of the bird were discovered to be missing from the key database of species sightings. As few as 500 critically endangered swift parrots are thought to be left in the wild, but the rare migratory species is a regular visitor to the Maules Creek Coal Mine area in north-eastern NSW. The operator, Whitehaven Coal, is applying to extend the life of the mine near Narrabri by a decade to 2044. This expansion would mean the clearing of about 50,000 trees swift parrots use for food, including large flowering white boxes, according to a new report commissioned by environmental group Lock the Gate. Ecologist and reporter author, John Muchan, found swift parrots - which migrate north onto mainland Australia each year from Tasmania - were regular visitors to Leard State Forest where Whitehaven plans to expand. "This return rate suggests the species is exhibiting high site fidelity to the Leard when flowering conditions are suitable," Mr Muchan said in the report. He also discovered 17 separate observations of the parrot in the region over the past 13 years, including by nearby coal mining operator Idemitsu, were missing from the BioNet Atlas. This is the NSW government's central database of species sightings which helps determine biodiversity management across the state. A spokesperson for the environment department said the records had since been updated with the observations Mr Muchan uncovered. "State government biodiversity databases are a critical resource to accurately inform ecological impact assessments," the ecologist told ACM, the publisher of this masthead. "Swift parrots are listed under the federal environment act as critically endangered - one step below extinct in the wild. "Of all the records to be included in - or missing from a database - those of federally listed critically endangered species are extremely important." Given the parrot's survival as a species is so precarious, the new report could affect Whitehaven's proposal to extract an extra 117 million tonnes of coal and clear 660 hectares of Leard State Forest to do it. The plan is on public exhibition as a state significant proposal while Whitehaven seeks federal environmental approval at the same time. "The [expansion site] is clearly within 'habitat critical to the survival' of the swift parrot as defined in the national recovery plan for the swift parrot," Mr Muchan said in his report. "Swift parrots have been recorded feeding on the nectar of flowering white box ... in the Leard on numerous occasions since 2012." He said it also qualified as a priority area for species under the NSW "saving our species" strategy - and the adjacent state forest should be listed as an important bird and biodiversity area to help ensure the swift parrot survives beyond the decade. A spokesman for Whitehaven said the company had taken recorded sightings of swift parrots in and around its Maules Creek mine into account already. "All of these records were comprehensively reviewed and considered by an independent expert as part of the environmental impact statement (EIS), including the observations that were not originally recorded in the NSW government's BioNet Atlas," he said. Sean Dooley from BirdLife Australia said the coal mine expansion would be "detrimental". "Due to our inadequate national nature laws, swift parrots continue to be pushed to the precipice of extinction," he said. "If we can't save a beautiful, charismatic and popular species - it won 'Bird of the Year' in 2023 - then what hope do we have for saving lesser known species." To lose any swift parrot habitat around Leard forest and Maules Creek would be "a cruel blow", Mr Dooley said. "It is a beautiful, dazzling parrot with a unique life history that is part of a whole suite of woodland birds that are in serious trouble," he said. "The trouble in protecting swift parrots is that they don't just rely on the same sites and habitat each year. "They move around according to the conditions. So you can't protect just a couple of sites and think the job is done." Lock the Gate, which campaigns against risky coal and gas mining, said about 40 per cent of Leard State Forest had now been cleared for three coal mines - Maules Creek, Tarrawonga, and Boggabri.
News.com.au
23-07-2025
- Business
- News.com.au
Closing Bell: ASX jumps 0.69pc as energy and resources do the heavy lifting
Resource stocks fuel market gains again, up 0.96pc 10 of 11 sectors higher as trade deal provides much needed relief ASX now 0.45pc off all-time high ASX surges on iron, gold and trade deals A 2% uptick in iron ore, a more than 1% gain in gold prices and a Japanese-US trade deal have delighted ASX investors. The ASX200 shot up 0.69%, with 10 of 11 sectors climbing. Materials (+1.22%) and energy (+0.83%) put in the hard work, leading the rest of the bourse higher. Headlining gains were our miners. Copper and gold company 29 Metals (ASX:29M) climbed 8.7%, graphite-focused Syrah Resources (ASX:SYR) 8.3%, gold producer Alkane Resources (ASX:ALK) 6.1% and lithium miner Sayona Mining (ASX:SYA) 6.8%. Over in energy, Whitehaven Coal (ASX:WHC) ticked up 6.45%, Woodside (ASX:WDS) added 1.45% and Ampol (ASX:ALD) lifted 3.27%. The banks have also made a recovery after slipping for three trading days straight, with the ASX 200 Banks index climbing 0.86%. Westpac (ASX:WBC) gained 1.42%, Suncorp (ASX:SUN) 0.89% and ANZ (ASX:ANZ) surged 2.5%. Japan and US lock in trade deal As the US dollar and bond yields continue to fall over increasing uncertainty around US President Trump's August 1 tariff deadline, Japan has gotten ahead of the pack. Our northern trade partner has agreed to invest $US550 billion in the US economy and pay a tariff of 15%, according to a Truth Social post by Trump, wherein he also claimed Japan would lower barriers to trade in cars and rice. The meatier details of the deal remain a mystery. Japanese Prime Minister Shigeru Ishiba has been under pressure to resign from his position after his coalition lost the majority in the upper house at the last election. His party suffered a similar defeat in the lower house last year. 'Our overarching concern is the interests of the nation,' Ishiba said. 'We are the first in the world to reduce tariffs on automobiles and auto parts, with no limits on volume,' he told reporters. The Japanese Nikkei225 surged in response to the new trade deal, up 3.5% or 1420 points intraday to a 12-month high. Automakers led the pack. Toyota jumped 15%, Honda 11% and Nissan 9%. "The reduced 15% tariff, down from the previously flagged 25%, is meaningful and should lift sentiment in export-driven sectors, even if the fine print, especially on autos, remains critical,' Saxo Singapore Capital Markets chief investment strategist Charu Chanana said. 'Markets will largely discount the $550 billion FDI headline as political theatre rather than a tradable catalyst. "Strategically, the deal allows Japan to sidestep immediate tariff escalation, while Trump's attention shifts elsewhere." Japan joins a disappointingly small group of countries that have finalised formal trade deals with the US, including the Philippines, Indonesia, the UK, and Vietnam. With just over a week left until the tariff pause expires, the rest of us are running out of time. ASX SMALL CAP LEADERS Today's best performing small cap stocks: Code Name Last % Change Volume Market Cap GTE Great Western Exp. 0.02 82% 7677247 $6,245,337 FAU First Au Ltd 0.006 50% 35831194 $8,305,165 HLX Helix Resources 0.0015 50% 64088 $3,364,194 RBR RBR Group Ltd 0.0015 50% 4365000 $3,120,285 LPM Lithium Plus 0.088 40% 664328 $8,368,920 CDE Codeifai Limited 0.025 39% 64354470 $8,494,218 PFM Platformo Ltd 0.076 38% 110 $5,219,957 FIN FIN Resources Ltd 0.004 33% 50000 $2,084,665 ATS Australis Oil & Gas 0.009 29% 13644883 $9,226,437 ADC Acdc Metals Ltd 0.054 29% 33106 $3,140,555 PVW PVW Res Ltd 0.019 27% 552164 $2,983,572 CTO Citigold Corp Ltd 0.005 25% 2046755 $12,000,000 PRX Prodigy Gold NL 0.0025 25% 266666 $12,700,222 WBE Whitebark Energy 0.005 25% 2670365 $2,802,231 OPL Opyl Limited 0.026 24% 2496114 $5,161,135 LKE Lake Resources 0.047 24% 33093708 $68,519,692 AVG Aust Vintage Ltd 0.11 21% 1387426 $29,981,126 AR3 Austrare 0.115 20% 1621941 $20,244,793 ALY Alchemy Resource Ltd 0.006 20% 667502 $5,890,381 AUR Auris Minerals Ltd 0.006 20% 84033 $2,383,130 SKK Stakk Limited 0.006 20% 388668 $10,375,398 INF Infinity Lithium 0.019 19% 1858948 $7,561,473 MKLDB Mighty Kingdom Ltd 0.16 19% 172335 $19,802,807 CR3 Core Energy Minerals 0.013 18% 5806723 $4,343,319 AAM Aumegametals 0.042 17% 1743941 $21,817,825 In the news… Codeifai (ASX:CDE) is building out its AI expertise with the addition of former Nvidia machine learning expert Rafael Possas to its advisory panel. CDE is preparing to double down on its AI and quantum security offerings with the roll out of its QuantumAI Secure platform. Possas was part of the team that built AI assistant Alexa and most recently took up a role as Canva's head of machine learning, and now joins a stacked advisory board full of veterans from OpenAI, WhatsApp and Binance. You can read more about the appointment here. First Au (ASX:FAU) has put drills to ground for a 3000m drilling program at its Nimba Gold Project in Liberia, following up on an extensive field mapping program over a 10 square kilometre area. FAU's main focus is on confirming gold mineralisation around a historical hole drilled by previous explorers, but the program will also investigate new gold targets and look for extensions of potential gold zones. As lithium sentiment improves, Lithium Plus Minerals (ASX:LPM) is putting the final regulatory pieces in place to begin operations at its Lei lithium development project in the Northern Territory. Designed as a direct shipping ore operation in partnership with Canmax Technologies, LPM is gearing up to ship 50% of all DSO spodumene concentrate produced at Lei directly to Canmax, one of China's leading lithium converters. Pilot Energy (ASX:PGY) is poised to formally farm out its extensive offshore Perth Basin exploration acreage permit WA-481P. The ready-to-drill Leander Gas prospect has an estimated 1.1 TCF of gas prospective resources, with pre-existing pipelines/shore-crossing and associated permits already in place. ASX SMALL CAP LAGGARDS Today's worst performing small cap stocks: Code Name Last % Change Volume Market Cap SFG Seafarms Group Ltd 0.001 -50% 99072 $9,673,198 PRM Prominence Energy 0.002 -33% 212618 $1,459,411 VEN Vintage Energy 0.004 -33% 9722100 $12,521,482 EEL Enrg Elements Ltd 0.0015 -25% 11785807 $6,507,557 M2R Miramar 0.003 -25% 10974269 $3,987,293 RIM Rimfire Pacific 0.018 -25% 2919216 $60,621,453 SCP Scalare Partners 0.13 -24% 290407 $7,111,954 DYM Dynamicmetalslimited 0.2 -23% 201777 $12,761,928 KGD Kula Gold Limited 0.007 -22% 6259796 $8,291,283 BIT Biotron Limited 0.002 -20% 10000 $3,318,115 LEG Legend Mining 0.008 -20% 6376975 $29,144,772 MTB Mount Burgess Mining 0.004 -20% 3466359 $2,128,192 ANO Advance Zinctek Ltd 0.915 -17% 6274 $68,910,718 AN1 Anagenics Limited 0.005 -17% 4000 $2,977,922 CUL Cullen Resources 0.005 -17% 1692777 $4,160,411 ENT Enterprise Metals 0.0025 -17% 200001 $4,113,952 MBK Metal Bank Ltd 0.01 -17% 266264 $5,969,508 MRD Mount Ridley Mines 0.0025 -17% 20000 $2,335,467 SPQ Superior Resources 0.005 -17% 3700000 $14,225,896 TFL Tasfoods Ltd 0.005 -17% 100000 $2,622,573 ENV Enova Mining Limited 0.006 -14% 3195749 $10,203,200 IPB IPB Petroleum Ltd 0.006 -14% 255842 $4,944,821 LCL LCL Resources Ltd 0.006 -14% 635789 $8,394,800 RC1 Redcastle Resources 0.006 -14% 3300591 $5,204,968 AU1 The Agency Group Aus 0.0215 -14% 44501 $10,989,415 IN CASE YOU MISSED IT A feasibility study for Magnetic Resources' (ASX:MAU) Lady Julie project in WA highlights 'one of the highest margin undeveloped gold projects in Australia'. Asra Minerals' (ASX:ASR) drilling has extended gold mineralisation at Gladstone prospect by 45m below previous intercepts, which could increase the resource footprint. Trading Halts Albion Resources (ASX:ALB) – exploration results from Yandal West Askari Metals (ASX:AS2) – exploration update and ASX queries International Graphite (ASX:IG6) – new graphite facility agreement Kingfisher Mining (ASX:KFM) – acquisition and cap raise Larvotto Resources (ASX:LRV) – cap raise St George Mining (ASX:SGQ) – cap raise Torque Metals (ASX:TOR) – exploration results from Paris Gold Project Vanadium Resources (ASX:VR8) – cap raise At Stockhead, we tell it like it is. While Codeifai is a Stockhead advertiser, they did not sponsor this article.
ABC News
21-07-2025
- Business
- ABC News
Queensland Land Court begins hearing conservation group challenge against proposed $1 billion coal mine
A legal challenge by conservation groups to stop one of Australia's largest proposed greenfield coal projects in Queensland's Bowen Basin has begun in the state's land court. The Australian Conservation Foundation (ACF) and Mackay Conservation Group (MCG) have lodged an application in the Land Court of Queensland, objecting to Whitehaven Coal's Winchester South open-cut coal mine. The $1 billion project is expected to produce up to 17 million tonnes of coal a year over its 28-year life span. The open-cut mine — set to be located 30 kilometres south-east of Moranbah — would extract mostly metallurgical coal, used to make steel, and thermal coal. It would involve the construction of a coal processing plant and a rail loop to connect with the existing Bowen Basin coal rail network. The two environmental groups are expected to argue the court should recommend against the project being granted a mining lease and environmental authority due to its significant environmental and human rights impacts. ACF climate and energy project manager, Gavan McFadzean, said the project would generate at least 583 million tonnes of climate pollution. "It's a coal project that will emit more emissions than Australia does in an entire year," he said outside court in Brisbane before the hearing. "New coal projects simply cannot be approved, if we're to stay within a 1.5 degree [Celsius] pathway." MCG climate campaigner Imogen Lindenberg said local communities needed to be protected from the impacts of climate change. "We are already living in a time of climate catastrophes, we can't afford to keep making the same mistakes again and again," she said. "We can't afford to keep opening brand new coal mines if we're to protect our land, water, climate and our communities. Whitehaven Coal says the Winchester South project would support 500 jobs during construction and operation. Whitehaven Coal's barrister Saul Holt KC told the court in his opening remarks, he would outline over the course of the hearing why this was the "right project, in the right place, by the right miner, at the right time." He said the project was supported by the area's traditional owners — the Barada Barna people — and had "widespread community support". Mr Holt said there was a "strong demand" from customers for metallurgical and thermal coal over the project's life, in addition to support from the landholder and the neighbouring Eagle Down coal mine which it would have a "significant and ongoing relationship with". "It promises considerable economic benefit to the local community and the people of Queensland," he said. He said 60 per cent of the coal mined at Whitehaven would be metallurgical and 40 per cent would be thermal, to be used in electricity production. In 2022, the Queensland Land Court ruled human rights would be unjustifiably limited by mining company Waratah Coal's proposal to build Australia's largest thermal coal mine in Central Queensland. Mr Holt said Whitehaven Coal's mine was a majority metallurgical project, which was one of its "many points of distinction" with the Waratah Coal case. ACF and MCG's barrister Emrys Nekvapil SC said while the applicant would argue the strong economical benefits of metallurgical, its extraction would still have an environmental impact. "For the present point, metallurgical and thermal coal is all coal," he said in his opening remarks. "Regardless of the label, its extraction will increase the atmospheric concentration causing environmental harm." Mr Nekvapil said Whitehaven Coal needed to establish the project would improve the total quality of life for current and future generations. "This coal mine is proposed to operate for one further generation, the applicant proposes immediate financial and employment benefits for some in the present generation and royalties for the Crown," he said. "But the generations to follow will suffer the degradation of their ecosystem caused by the cumulative effect of the greenhouse gas emission unlocked by this mine." The matter is expected to run for at least seven weeks in the Land Court of Queensland, with Judge Nicholas Loos to visit the mine's proposed site over the next three days. At the end of the hearing the Land Court will recommend whether the mine be refused or approved, then it will be up to the Queensland government to make a decision about whether the project proceeds. The coal mine project is currently subject to a lengthy approval process. The state's coordinator general recommended the project proceed in 2023, subject to conditions and recommendations, following an assessment of its Environment Impact Statement. In 2024, the Queensland Department of Environment, Science and Innovation approved the mine's Environmental Authority (EA) application. Whitehaven would still need to be issued with an EA and mining lease from the state government. The federal government makes the final decision and approvals about whether the project gets the green light.
News.com.au
18-07-2025
- Business
- News.com.au
Monsters of Rock: BHP's big year and battery metals comeback
BHP sees "resilience" in commodity demand amid trade stoushes Big Australian posts copper and iron ore records Lithium and graphite stocks rise with higher prices and US tariffs respectively BHP (ASX:BHP) CEO Mike Henry has shrugged off concerns about global trade, calling commodity markets resilient despite a porous Chinese property market and the impact of Donald Trump's tariffs on the Middle Kingdom's exports. The Big Australian is strongly wedded to the Chinese economy, producing a record 290Mt of iron ore from its Pilbara operations in FY25 while it increased met coal sales by 5% after the sale of its Blackwater and Daunia mines to Whitehaven Coal (ASX:WHC) last year was taken into account. It also lifted copper output 8% to 2.017Mt, with its flagship Escondida mine in Chile lifting 16% to a 17-year high of 1.305Mt. Unit costs are expected to be on track, with Escondida and NSW energy coal divisions exceeding the top end of guidance, while the Spence, WA iron ore and BMA (Qld coal) ops were all in the upper half of the guidance range. "Commodity demand globally has remained resilient so far in 2025," Henry said. "That resilience largely reflects China's ongoing ability to grow its overall export base despite a significant decline in exports to the USA and its ability to deliver robust domestic demand despite the dislocation in the property sector. "Copper and steel demand have benefited from a sharp acceleration in renewable energy investment, electricity grid build out, strong machinery exports and EV sales. "While slower economic growth and a fragmenting trading system remain potential headwinds, stimulus efforts by China and the USA would help to mitigate the near-term impact. "Going forward, China's 15th 5-year plan is likely to provide more visibility on policies to sustain longer term growth and development.' At 70Mt on an equity basis and 77.5Mt on a 100% basis, BHP's iron ore shipments rose 14% to a quarterly record in the three months to June 30. But prices were down 8% QoQ and 12% YoY to US$79.93/wmt FOB, with full year pricing 19% lower at US$82.13/t. It comes as traders get more bullish on China in the hopes capacity controls and potential stimulus could revive property demand, with iron ore up 1.6% in Singapore this morning to US$102.45/t. Jansen pottering But not all is well. A predictable update saw BHP lift cost estimates for its Jansen potash mine in Canada from US$5.7bn to US$7-7.4bn, with the company reverting the first stage of the development to its original completion timeline of mid-2027. Guidance is a little hum-drum for next year as well. Copper production for FY26 is guided at 1.8-2Mt, with Escondida's output forecast to fall, iron ore 284-296Mt, the Samarco JV with Vale in Brazil is forecast to lift from 6.4Mt in FY25 to 7-7.5Mt in FY26, while steelmaking coal will come in at 36-40Mt on a 100% basis and the Mt Arthur thermal coal mine will deliver 14-16Mt, around the same as its 15Mt output in the past year. RBC's Kaan Peker said the guidance was in line with consensus, saying strong operating and cashflow performance in Q4 would lead the stock to trade well today, offset by the Jansen news. Net debt of US$13bn was below RBC's and consensus estimates of US$13.9bn and US$14.2bn. BHP's Nickel West business will also report US$250-300m of negative EBITDA for the second half of FY25, after shutting down progressively over the course of the year in response to high costs and weak nickel prices caused by oversupply out of major producer Indonesia. Battery metals not booming, but maybe blooming A little bit of positivity creeping in for battery metals producers, with China starting to crack down on "illegal" mining activities at loss-making operations. In a situation that largely benefits battery maker CATL and EV giant BYD, a radical ramp up in production by Chinese producers, along with supply rushes a couple years back out of Africa, WA and South America, has sent lithium into a deep oversupply situation. That's left the industry in the Middle Kingdom effectively eating itself at the expense of BYD and CATL's bottom lines as they try to get battery costs down for electric vehicle buyers. But China's Zangge Mining – a subsidiary of Zijin – said local officials in Qinghai had told it to halt mining, according to a notice on the Shenzhen Exchange, Reuters said. The response has been swift. According to Fastmarkets, lithium carbonate prices were up US$200 to US$8500/t yesterday, with spodumene rallying to US$722.50/t from US$700/t thanks to a rise in futures prices. However, S&P Global reported that a slow down in US demand was hurting the lithium market, with power battery sales in China also growing at just 1% in May compared to 30.7% in March and 6.4% in China. Further data from the China Automotive Power Battery Industry Innovation Alliance shows installations in June lifted 1.9% MoM, but 35.9% YoY, with CATL and BYD accounting for 65% of the market between them. For the whole first half installed capacity rose 47.3% in China to 299.6GWh. S&P says low cost brine producers are also hampering the supply-demand balance by ramping up output in a bid to dilute fixed costs. With lithium prices running higher and the Zangge news, Pilbara Minerals (ASX:PLS) shares lifted 6.35%, Mineral Resources (ASX:MIN) rolled 5% higher, IGO (ASX:IGO) ran 2% and Liontown Resources (ASX:LTR) was up 6.5%. Graphite run Not to be outdone, it's been a good morning for graphite bulls, thanks to the announcement of a 93.5% anti-dumping duty on Chinese natural and synthetic graphite producers in the US. The measure was lobbied for by a consortium of American graphite hopefuls, including Novonix (ASX:NVX) and Syrah Resources (ASX:SYR), which are attempting to establish, respectively, synthetic and natural graphite based battery anode material factories in the US. NVX shares charged 18% after the preliminary determination by the US Department of Commerce, which would make the effective tariff rate on Chinese graphite some 160%. Final determinations on the DoC investigations are due on December 5. Novonix CEO Michael O'Kronley said the decision underscored the 'strategic importance' of building a North American graphite supply chain. It owns one operating plant in Chattanooga, with Riverside, while a second known as Enterprise South is also being planned for an eventual total production rate of 50,000tpa. "It affirms our business strategy as well as the diversification strategy of our customers to source critical battery materials and components locally," O'Kronley said. "Novonix, with the most advanced synthetic graphite production facility in North America, will be increasing significantly the United States production of an essential strategic mineral while strengthening American manufacturing, and creating high-quality jobs locally.' The ASX 300 Metals and Mining index rose 3.63% over the past week. Which ASX 300 Resources stocks have impressed and depressed? Making gains Iluka Resources (ASX:ILU) (mineral sands/rare earths) +33.8% ioneer (ASX:INR) (lithium) +25% IperionX (ASX:IPX) (titanium) +23.8% Lynas (ASX:LYC) (rare earths) +21.9% Eating losses Ora Banda (ASX:OBM) (gold) -10% Vulcan Energy Resources (ASX:VUL) (lithium) -8.9% Catalyst Metals (ASX:CYL) (gold) -6.8% South32 (ASX:S32) (diversified) -5.8% After the news of the DoD and Apple's big investments in US rare earths producer MP Materials, investors are lining up in both rare earths and US critical minerals, powering the outsized gains for Iluka, Ioneer, IperionX and Lynas. South32 was a notable loser given its $13bn heft, flagging issues around electricity supply at its Mozal aluminium smelter in Mozambique.
News.com.au
17-07-2025
- Business
- News.com.au
‘Betrayal': Aussies fume over super truth
Members of an Australian superannuation provider are furious after the multi-billion dollar fund quietly backflipped on a decision to divest from coal mining despite claiming to be committed to reaching net zero emissions. AustralianSuper has become one of the largest investors in Whitehaven Coal, with shares worth about $395 million, disclosures from the end of last year show, despite previously divesting from the company in 2020. Whitehaven Coal – whose chief executive Paul Flynn pocketed an enormous $10.6 million pay packet last year, exceeding those of the Commonwealth Bank and Woolworths chiefs – has also come under scrutiny with claims he is heading up a company that is cashing in on an environmental crisis. Olivia Gardener is an AustralianSuper member who is 'angry' over the fund's decision to invest in Whitehaven Coal. The 28-year-old said where super funds are investing is a 'common conversation' people her age are having. Five years ago, she shifted to AustralianSuper due to its commitments to net zero but describes the Whitehaven Coal move as a 'betrayal'. 'The recent news has really disappointed me and made me quite angry as you put your trust in these institutions and they change it up behind your back,' Ms Gardener told 'I feel really disappointed. I think that AustralianSuper promoting themselves as an environmentally sustainable fund (in supporting the net zero goal) is false advertising and I'm angry. Do you know more or have a story? Contact 'I think a lot of members should be because these big funds are banking on their members' blind trust and that they won't keep track and call out their behaviour. 'I've moved funds for this reason and I'll do it again – it's really easy.' The return to investing in coal mining also makes the Melbourne woman fearful of the future and extreme weather events. 'I think there is this kind of narrative that investing in renewables is enough but divesting in coal and gas is what we need for a net zero future,' she said. Shareholder advocacy group and clean energy finance organisation Market Forces has slammed AustralianSuper's decision with chief executive Will van de Pol describing Whitehaven Coal as having a 'shameful wrap sheet in terms of environmental incidents'. He said AustralianSuper members have used Market Forces' website to send thousands of emails regarding the fund's fossil fuel investments over the past decade and many had contacted them over the recent decision. 'I think this investment from AustralianSuper into the biggest coal expander sends all the wrong messages about transition away from fossil fuels to renewables if Australia is to avoid the worst impact of climate change.' One of Australia's leading climate scientists, Australian National University Professor Sarah Perkins-Kirkpatrick, said a commitment to reducing emissions and investment into coal mining simply didn't match up. 'We can't get to net zero effectively and efficiently if we invest in fossil fuels and renewable energy is actually much cheaper,' Prof Perkins-Kirkpatrick said. 'The mind boggles, it's not setting the right message. I'm not the expert in finance but I can't see how it is a good business decision over the next few decades.' Meanwhile, Market Forces analysis found Whitehaven plans would result in coal production from its mines increasing by over 80 per cent by the mid 2030s. The projects would also result in nearly five billion tonnes of carbon pollution from burning coal, equivalent to running all of Australia coal-fired power stations until 2062. One of Whitehaven's most high profile projects is Winchester South, a proposed new open-cut coal mine in Queensland's Bowen Basin. Mr van de Pol said the project is inconsistent with limiting the global impacts of climate change and the 'devastating impact of supercharged fires, droughts and storm events which communities are already facing'. The mine is expected to contribute 583 million tonnes of greenhouse gas pollution, according to the company's environmental impact statement, which is more than Australia's national annual greenhouse gas emissions. Prof Perkins-Kirkpatrick said any new project will contribute to global greenhouse gas emissions which will stay in the atmosphere for hundreds of years. 'Any emission coming from any projects will stay in the atmosphere for centuries to come so we won't just feel the impacts next summer, it's the generations to come,' she said. Coal mining advocates argue it is still a crucial industry for the Australian economy. Industry lobby group Coal Australia said the country's coal industry contributed $99.3 billion to national and local economies in 2022-23 and is Australia's second largest export industry after iron ore. The coal industry plays a critical role in supporting regional communities, especially in Queensland and NSW, both by providing jobs and supporting businesses, it added. Environmental lobby group Lock the Gate's head of investigation and research George Woods was highly critical of AustralianSuper's investment decision. 'At this point, any investment in a company that is expanding coal production is an investment that assumes the temperature goals of the Paris climate agreement will not be met and we are tracking at a high global warming scenario,' she said. She said of millions of members, the average age is 40, 'so they will mostly be retiring in or after 2050 and the impact of climate change on the Australian economy will materially affect their retirement savings'. Whitehaven's pursuit of coal mining only as an 'entire business strategy built on the assumption of catastrophic levels of global warming', according to Ms Wood. Meanwhile, Mr van do Pol added recent research showed the top 30 super funds will take a 46 per cent hit to returns by 2050 if climate change goals aren't met. Market Force members had also raised concerns about Mr Flynn's enormous pay packet, Mr van de Pol said. 'Whitehaven's CEO remuneration policy is widely out of step with peers and unacceptably Whitehaven's CEO is being incentivised to increase coal production when we know coal production must rapidly fall to meet the climate goals Australia and the world has committed to,' he said. Mr Flynn joined the board of Whitehaven in 2012 and became CEO less than a year later. An AustralianSuper spokesperson said the fund is still committed to its net zero 2050 goal. 'That hasn't changed. The energy transition will not be linear. We regularly reassess investments in the energy and resources sectors for their ability to deliver value for members,' they said. 'AustralianSuper's 3.5 million members have diverse preferences and attitudes about what they want us to invest in. The fund offers members a number of investment options that give them choice.'
