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Whitehaven suspends buybacks amid ‘strong support’ for growth spending

Peter Ker
Peter KerResources reporter

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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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Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com

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    Original URL: https://www.afr.com/companies/mining/whitehaven-suspends-buybacks-amid-strong-support-for-growth-spending-20230824-p5dz1z