From 'The Australian' online Monday 30 January 2023:'
"BHP may bring forward the closure of a major NSW coal mine by four years in protest at the state’s plans to establish a controversial domestic coal reservation, adding the scheme would fail to lower power prices for households and businesses.
The global mining giant had previously outlined plans to the mine’s 2000-strong workforce to wind down operations at Mt Arthur by 2030, 15 years ahead of previous plans for the coal mine.
However, a memo sent by BHP to the mine’s staff on Friday slammed the intervention by Treasurer Matt Kean and said it may pull back from a commitment to keep the operation going until the end of this decade due to the state-imposed directions..."
Sad for the employees but "tank you" Matt Kean for your stupidity.Won't be welcomed by overseas (or local) buyers, so agree that it will in a small way push up prices for NHC.
NHC Price at posting:
$5.84 Sentiment: Hold Disclosure: Held
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