Coal mine to axe 200 over failure to secure Eraring supply deal
NSW producer Centennial Coal is axing 200 jobs at its Mandalong mine after failing to win a new supply deal with Origin for its Eraring coal-fired power station.
NSW producer Centennial Coal is axing 200 jobs at its Mandalong mine after failing to win a new supply deal with Origin for its Eraring coal-fired power station.
Western Australia’s resources industry has taken another hit after a major lithium mine was mothballed amid ongoing weak prices for the battery making material.
DataRoom understands that Total may look to pause transport and civil works contracts as it reconsiders the cost and scope of the 5.6 million tonne-a-year facility.
West Australian Treasurer Rita Saffioti has defended the state’s more bullish price forecasts for iron ore despite a sharp fall in the commodity over China weakness.
The critical minerals sector has been pressuring the federal government for additional processing support after a sharp fall in prices.
The billionaire will raise concerns over the ability of renewable energy to replace baseload coal and gas, saying ‘humungous’ spending will be needed on solar and wind as Australia’s electricity grid faces an uncertain path to green power.
The nation’s largest renewables project has won environmental approvals from the Albanese government, with the NT development, backed by tech billionaire Mike Cannon-Brookes, set to produce enough power for three million homes.
Prices will rise in Australia’s electricity grid as big coal power stations are shut down and the rollout of renewable and storage capacity slow with NSW the most exposed.
A $50m bailout, funded by banks and retailers, will prop up the nation’s biggest cash distributor for a year.
The nation is facing a deepening energy crisis on two fronts, with Victoria’s main gas storage plant set to run out by the end of winter as wind farm output slumps to a five-year low.
Original URL: https://www.theaustralian.com.au/author/perry-williams