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Two court cases last week, one certainly historic and the other less clear-cut, both signal that in the push towards renewables and away from fossil fuels, change is afoot.
Globally, the loss by Royal Dutch Shell in a landmark case in the Hague led by seven climate activist groups sent shockwaves through the fossil fuel industry. The court not only ruled that Shell must reduce its greenhouse gas emissions by 45 per cent by 2030 from 2019 levels, but it found the company responsible for emissions from its customers and suppliers and said that its activities constituted a threat to the “right to life” as set out in the European Convention on Human Rights.
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Whitehaven Coal has released its March 2021 quarter production report and revised financial year (FY) 2021 guidance.
Highlights
The March quarter managed run-of-mine (ROM) production of 5.5 million t, up 12% on previous corresponding period (pcp).
March quarter managed saleable coal production of 4.3 million t, up 6% on pcp.
March quarter total managed coal sales 4.8 million t, up 7% on pcp, managed own coal sales 4.2 million t, up 7% on pcp, total equity coal sales 4 million t, up 7% on pcp, and equity sales of own coal 3.4 million t, up 7% on pcp.
Managed coal stocks of 2.8 million t at period end.
As reported to the market on 23 March 2021, rail and port infrastructure were impacted by weather events in March and the outage of Newcastle Coal Infrastructure Group (NCIG) shiploader SL1.