Whitehaven suspends buybacks amid ‘strong support’ for growth spending
Whitehaven Coal managing director Paul Flynn says he has strong shareholder support for spending on growth as he temporarily suspended the miner’s share buyback program to preserve cash for a tilt at BHP’s coking coal mines.
Fresh from reporting a $2.66 billion profit, Mr Flynn declined to confirm whether Whitehaven had bid for the BHP assets but noted they would fit with his long-held strategy to increase the company’s exposure to coking coal.
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