Yesterday
Anglo American wants a single buyer for its Australian coal division
The London-listed diversified miner this week unveiled a major divestment plan designed partly to keep a $64.4 billion buyout proposal from BHP from succeeding.
- Peter Ker
This Month
CEO hails progress as AGL ups guidance again
The energy giant backed by software billionaire Mike Cannon-Brookes bumped the lower bound of its full-year guidance up by $80 million.
- Updated
- Ben Potter and Jemima Whyte
Second-largest super fund blacklists thermal coal investments
Superannuation giant Australian Retirement Trust will stop investing in most thermal coal companies from July as part of a plan to hit net zero emissions across its portfolio by 2050.
- Lewis Jackson
April
Coal mine methane twice official disclosures: Sims
Australia’s open cut coal mines could be emitting twice as much methane as official disclosures suggest, casting doubt on national carbon emissions data.
- Ben Potter
Anglo to run investor gauntlet after rejecting BHP’s $60b bid
The market is tipping BHP can come back with a higher offer, as it moves to acquire more copper assets. But first, Anglo American will face its own shareholders.
- Joshua Peach and Liam Walsh
- Opinion
- Chanticleer
BHP’s complex bid for Anglo American is a bet on the future
After years of shrinking to greatness, BHP boss Mike Henry is eyeing a deal that could deliver a triple victory. But it’s complex, and possibly risky.
- James Thomson
Whitehaven’s Blackwater selldown may be upsized; JFE keen
Sources said JFE Steel Corporation, Japan’s second-largest steel producer after Nippon Steel, is in advanced discussions to acquire a circa 10 per cent stake in Blackwater.
- Sarah Thompson, Kanika Sood and Emma Rapaport
BHP suffers new productivity hit in Queensland coal
Another downgrade means the miner spends almost seven times more money to dig a tonne of coal out of the sunshine state as it does for each tonne of iron ore in WA.
- Peter Ker
ASX-listed Russian coal miner breached sanctions law: Federal Court
This is the first time a company has been found in breach of the Autonomous Sanctions Act following Russia’s invasion of Ukraine in 2022.
- Elouise Fowler
Can one of our dirtiest coal plants reap a green bonanza?
Verdant Earth has lofty ambitions to turn the moribund Redbank into a major clean energy precinct using biomass. Environmentalists are still unhappy.
- Ben Potter
China’s biggest steel maker exits Queensland coal
Chinese state-owned steel maker Baowu has called time on a dirty decade by selling an undeveloped coal asset acquired in the 2014 takeover of Aquila Resources.
- Peter Ker
Clock ticks on BlueScope’s dibs at South32’s $2.5b coal sale; DD afoot
The confidential deed grants BlueScope 60 business days to look at the books, followed by another 20 days to exercise its matching rights.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Coal power surge raises pressure to extend Eraring
A surge in coal generation in NSW in the March quarter has put pressure on Origin and the state government to postpone closing Australia’s largest power station.
- Ben Potter
Bankers on the scene at PE-owned Queensland coal mine Olive Downs
Jefferies’ US-based resources bankers have been trying to line up buyers for a stake in Olive Downs, which will be housed in a new continuation fund.
- Sarah Thompson, Kanika Sood and Emma Rapaport
March
Resources exports to slump $117b by decade’s end
Profits and federal treasury’s coffers will suffer after record high prices for iron ore, coal and gas cool off, official forecasts indicate.
- Elouise Fowler
Glencore abandons coal production cap as another climate pledge fails
Five years after it promised to cap annual coal production at 150 million tonnes, Glencore has withdrawn the policy.
- Peter Ker
New Hope asks NSW for coal extension, backs nuclear
New Hope chief Rob Bishop reckons the world will want coal for a long time to come, and nuclear is the only hope of net zero emissions.
- Peter Ker
Change of guard at Taurus’ Queensland coal mine Foxleigh
The departure was announced to QMetco staff and joint partners, POSCO and Nippon Steel, in recent weeks.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Big Glencore shareholders will back coal plan
Big shareholders in Glencore say swift coal divestments are not the answer, but they are inclined to trust the company’s coal demerger plan.
- Peter Ker
EY staffers reject claims of ‘fake coal’ test collusion
A former mine employee has alleged that auditors knew of results manipulation.
- Liam Walsh
