Aurizon Expands Horizons
Feb 16 2021
Coal volumes and the stoush with China hold few concerns for Aurizon Holdings, which is expanding its presence in bulk ports
-Bulk earnings continue to surprise to the upside
-Coal volumes being managed with diversion to India
-Record interim dividend, robust dividend yield
By Eva Brocklehurst
Aurizon Holdings ((AZJ)) is moving up the supply chain via port services as coal contracted volumes continue to decline. While coal exports are expected to be well-managed over the short term, heightened environmental concerns are likely to have a longer impact.
Coal volumes were -4% lower in the first half, which exposes the fixed cost leverage in this division where earnings (EBIT) were down -17%. UBS points out that FY21 forecasts have declined by less than -10% over the past 12 months and a significant amount of the decline will be recovered in a couple of years under the revenue cap provisions.
Queensland judge to step down after leaving an “unparalleled” legacy for women in the law
News by Janelle Miles
Premium Content Queensland Court of Appeal judge Anthe Philippides has resigned after two decades on the bench. Justice Philippides has served on the Court of Appeal for six years after 14 years as a judge of the Supreme Court. She is Queensland s most senior female judge behind Chief Justice Catherine Holmes. Her ascension to the Queensland Supreme Court in 2000 marked the first appointment of a woman of immigrant parents to a superior court in Australia. Justice Philippides, whose parents emigrated from Cyprus, has been a long-standing advocate for diversity and inclusion in the law.
Ms Hyman said Save Yaroomba supporters had been accused of being a noisy, vocal minority, who had been abused and disparaged publicly , but had not given up. Now we are vindicated in our long pursuit to try and reverse this bad decision through the courts, she said. Ms Hyman said several hundred pages which were redacted within the release also raised a big question mark as to the content they may contain, and why they had been omitted. Artist s impressions of Sekisui House s hotel and residential development at Yaroomba. The upcoming appeal in the Supreme Court is based purely on what the planning court judge decided at the first appeal last November, not on council s decision-making process, Ms Hyman said.
Activist farmers win High Court victory over mining giant
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An activist group of dozens of drought-stricken farmers has won the latest round in a 13-year battle to stop the expansion of a coal mine west of Brisbane.
In a 5-0 decision on Wednesday, the High Court overruled orders by Queensland’s Supreme Court in 2019 allowing New Hope Group to expand its southern Queensland New Acland Mine onto agricultural land.
But the decision has not deterred New Hope from pushing ahead with the project. The company said after the judgment it was seeking a guarantee from the Palaszczuk government that approval for the mine will go ahead.
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The High Court ruling in favour of Queensland farmers opposing the proposed expansion of the New Acland Coal Mine is a âhammer blowâ to the community, LNP natural resources spokesman Pat Weir says.
Resource sector representatives are calling for clarification from the state government over what is needed for expansion of the Darling Downs mine to be approved but Acting Premier Steven Miles said no decisions would be made while the case was before the courts.
The New Acland coal mine washplant in Queenslandâs Darling Downs.
An activist group made up of dozens of farmers won a High Court appeal on Wednesday against New Hope, the operator of New Acland Coal Mine.