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Mining giant BHP would pay a bidder about $275 million to take the biggest coal mine in NSW off its hands even as prices of the fossil fuel soar to levels not seen since 2008.
Eraringâs financial performance has also been hurt by a spike in coal prices, which came despite long-term decline in the industry. Origin also cut the value of power purchase agreements by $995m due to lower electricity prices â which have hurt its profit margins on renewable energy â and lower domestic gas prices. Coal assets are under siege in the Australian market, despite expressions of support from seniorfigures in the Morrison government. In December the Japanese company Sumitomo wrote the value of Australiaâs newest coal-fired power plant, Bluewaters, down to zero ...
Theft of copper wire from a mine sparks grassfire July 26, 2021 Police are investigating after thieves allegedly stole copper wire from a mine site sparking a grass fire. Hunter Valley Police District officers said just after 1am today, unknown persons broke into the Mount Arthur mine site at Muswellbrook. They allegedly then cut down a power pole, stole the copper wire from it and fled. The story doesn’t end there, electrical wires attached to the pole detached and sparked a grassfire that burnt through 50 hectares of farm land. Fire crews including the Edinglassie Rural Fire Service were ...
Last modified on Fri 14 May 2021 16.02 EDT Standing on a hill overlooking the sprawling maze of paddocks heâs worked all his 71 years, Ian Moore rattles off the names of Nationals MPs heâs supported in the Upper Hunter during his 50 years as a member of the party. Col Fisher, the local MP for 18 years from 1970, lived just over the hill from Mooreâs farm in Jerrys Plains, a tiny village west of Singleton. Fisher was âan honourableâ man, he remembers. So too George Souris, who held the seat from 1988 until his retirement in 2015. âA gentleman,â Moore says. Mo...
FILE PHOTO: Snow covered transfer lines are seen at the Dominion Cove Point Liquefied Natural Gas (LNG) terminal in Lusby, Maryland March 18, 2014. REUTERS/Gary Cameron (UNITED STATES)/File Photo Column: The stampede to exit coal is a worrying harbinger for LNG Commodities News Clyde Russell LAUNCESTON, Australia (Reuters) - A global diversified miner paying to exit its coal assets, and a multi-bil-lion dollar investment by Qatar to reclaim its status as the world’s largest producer of liquefied natural gas have more in common than might be visible at first glance. ...