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February
What we learnt: Telstra’s mobile dominance is making investors say OMG
Telstra gets its balancing act right, Wesfarmers deregulates itself, Transurban goes for growth and Fortescue struggles to get its shiny project up and running.
Andrew Forrest takes control of rare earths mine, magnet maker
While his flagship company Fortescue retreats from hydrogen, Andrew Forrest’s private company has taken control of some rare earths mining and processing assets.
Whitehaven, New Hope and Bowen dig deep to revive coal lobbying
From t-shirts to right-wing campaign groups to its own lobbyists and new industry group, the coal industry is getting its mojo back.
January
Whitehaven sells more coal but supply depresses prices
Australia’s largest independent coal miner has fetched “disappointing” prices over the last quarter as the coal super-cycle fades.
Coal price slumps to three-year low as super-cycle fades
The commodity is now selling for 23 per cent less than it was only five months ago as a surge in global supply meets a warmer-than-usual northern summer.
November 2024
Private credit will lick its lips over Peabody’s $3.2b bridge loan
We’ve seen this movie elsewhere in Australian coal: a miner buys mines, and funds the deal with a short-term loan. Enter private credit.
As Ukraine crisis worsens, big oil and gas see rising share prices
Two major oil benchmarks rose 6 per cent last week, and are expected to continue climbing amid fears the conflict with Russia will intensify.
Coal miners halt climate fund donations citing lack of projects
Australia’s cashed-up coal miners have put the brakes on contributions to an industry decarbonisation fund and the decision will be reviewed “periodically”.
October 2024
BHP grooming ‘internal candidates’ for chairman, CEO succession
BHP chairman Ken MacKenzie says directors of the miner will discuss whether it’s time for a new chairman in 2025.
Future Fund ramps up ‘alarming’ fossil fuel exposure
It comes amid growing greenwashing claims and pressure from Labor to align the fund’s investment strategy with the government’s broader net zero goal.
EMR Capital puts Queensland’s Kestrel coal mine up for mega auction
The coking coal operation in the Bowen Basin is the sixth-largest in the country, and generated a profit of nearly $500 million in the last two years alone.
Whitehaven accused of paying ‘overly generous’ bonuses
Whitehaven Coal and a big proxy adviser are at odds over a recommendation shareholders lob a second strike over executive pay.
September 2024
You want a fight, you’ve got one, miners tell Albanese
Prime Minister Anthony Albanese’s speech to the miners was a veiled jibe, but Minerals Council of Australia boss Tania Constable went out-and-out hostile.
Undermine mining at your peril, industry warns PM
The miners say the government has incited conflict and made the industry less competitive with its industrial relations changes.
August 2024
Miners forced to the table for industry’s first multi-employer deal
The Fair Work Commission has sided with mining unions in a precedent ruling for Labor’s multi-employer bargaining laws, raising the prospect of mass mine shutdowns.
‘Urgent’ $1.6b coal deal; BoQ to sack 400; $1b Aussie housing bet
Read everything that’s happened in the news so far today.
Japan’s ‘urgent’ $1.6b coal deal driven by Qld royalty storm
The Japanese steel mill that bought 20 per cent of Whitehaven’s Blackwater coal mine says it was motivated by a fear higher royalties would curb supply.
Yancoal’s 20pc crash is about more than a missing dividend
Queensland and NSW’s big coal miners have their eyes up, knowing consolidation makes sense and could create value for investors.
Whitehaven cuts 192 jobs at former BHP coal mines
The coal producer found “unnecessary” layers of complexity and duplication at the Daunia and Blackwater sites since acquiring them for $6.4 billion in April.
Coal miners go it alone with first lobby group in more than a decade
But the companies say the emergence of Coal Australia will not lead to a split of the powerful resources association Minerals Council of Australia.