WHC 1.00% $7.91 whitehaven coal limited

Target $18.72, page-4153

  1. 10,540 Posts.
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    Stupid and "stupider" (not a word but sums it up):

    (from 'The Australian' 31 January 2023):

    The NSW government has pushed back the introduction of a coal reservation scheme after fierce criticism from export-focused producers, with orders setting aside up to 10 per cent of the state’s production now not due until as late as mid-February.

    But while the NSW government is yet to release details of the proposal, first reported in The Australian, industry sources say coal miners could be forced into loss-making contracts with other local miners to meet their obligations if they are unable to divert coal from export markets.

    Industry sources say government officials have made it clear to coal companies they are focused on the delivery of coal rather than its source. That effectively suggests exporters concerned about delivering high-grade export coal to NSW power stations should buy lower-grade offerings from other miners to contribute their share of the domestic coal reservation.

 
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