B06 Coal Mining

Despite $22bn promise, Adani has paid zero corporate tax in Australia and experts think it won’t ever pay a cent

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Original article by Jonathan Barrett
The Guardian Australia – Page: Online : 29-Jul-25

Adani Mining posted a loss of $461.7m in the year to 31 March, despite having revenue of $1.27bn. It operates the Carmichael coal mine in Queensland, and is part of the India-based Adani conglomerate. Large annual payments to related parties is a key reason why Adani Mining has yet to make a profit, more than three years afer production at the Carmichael mine began. Jason Ward from the Centre for International Corporate Tax Accountability & Research says the level of related-party transactions at Adani Mining is "pretty unprecedented"; he believes that the company has been structured in a way that ensures it will never make a profit or have to pay tax.

CORPORATES
ADANI MINING PTY LTD, CENTRE FOR INTERNATIONAL CORPORATE TAX ACCOUNTABILITY AND RESEARCH

Hunter jobs rest on hydro dream

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Original article by Perry Williams
The Australian – Page: 15 & 21 : 17-Apr-25

BHP has commissioned Acciona to undertake an initial feasibility study into developing a pumped hydro energy storage project at part of the Mt Arthur thermal coal mine when it closes in 2030. BHP had announced in 2022 that it would close the mine by the end of the decade, given that it is nearing the end of its economic life; the company has confirmed that the NSW government has granted planning approval for the mine to keep operating until the scheduled closing date. The mine employs about 2,000 workers.

CORPORATES
BHP GROUP LIMITED – ASX BHP

BHP corruption probe tipped to expand as contractors axed

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Original article by Brad Thompson
The Australian – Page: 13 & 16 : 24-Jan-25

A whistleblower has claimed that there is widespread corruption among contractors working for BHP’s Queensland coal mining operations, and that they had raised their concerns with the Australian ­Securities & Investments Commission and police. BHP has so far axed dozens of contractors who were hired for work at its Saraji mine, with it being suggested these sackings are just the tip of the iceberg. The whistleblower has indicated that the corruption has been going on for a number of years, and that tens of millions of dollars were involved.

CORPORATES
BHP GROUP LIMITED – ASX BHP, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Coal miner set to move fast after court win

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Original article by Mackenzie Scott
The Australian – Page: 6 : 22-Jan-25

New Hope Corporation will ramp up work on the much-delayed stage three expansion of its New Acland thermal coal mine in Queensland. There are currently about 280 workers at the site, but New Acland Coal’s general manager Dave O’Dwyer says this will increase to 400 over the next year. New Hope’s initial application to expand the mine was submitted more than 15 years ago, but the project has been delayed by ongoing legal challenges. However, the Oakey Coal Action Alliance recently withdrew its appeal against the state government’s 2022 decision to grant a water licence for the project.

CORPORATES
NEW HOPE CORPORATION LIMITED – ASX NHC, NEW ACLAND COAL PTY LTD, OAKEY COAL ACTION ALLIANCE

Miner hails end to years of bitter lawfare

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Original article by Brad Thompson
The Australian – Page: 6 : 15-Jan-25

The Oakey Coal Action Alliance has withdrawn its appeal against the Queensland government’s 2022 decision to grant a water licence for an expansion of the New Acland coal mine. The decision to end the long-running legal challenge to the Stage 3 expansion of New Acland has been welcomed by New Hope Corporation’s chairman Robert Millner, after the company’s 14-year battle to get the project approved. He stresses that red and ‘green’ tape hurdes in the mining sector are not restricted to the fossil fuel industry, but can also affect projects such copper or cobalt mines.

CORPORATES
NEW HOPE CORPORATION LIMITED – ASX NHC, OAKEY COAL ACTION ALLIANCE

Anglo deal shores up its BHP defences

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Original article by Brad Thompson
The Australian – Page: 13 & 16 : 27-Nov-24

Anglo American’s deal to sell its coking coal mines in Queensland will boost its balance sheet ahead of the looming expiry of the embargo on a new takeover bid from BHP. Peabody Energy will pay $US3.8bn ($5.8bn) for the coal assets, well above market expectations that the mines would fetch around $US2.8bn. RBC Capital analyst Marina Calero says the deal will also increase shareholders’ confidence that Anglo American will be able to carry out its restructuring plan. BHP will be free to make a fresh bid for Anglo American from late November, under the UK’s takeover laws.

CORPORATES
ANGLO AMERICAN PLC, PEABODY ENERGY CORPORATION, BHP GROUP LIMITED – ASX BHP

Peabody picks up Anglo coal assets for $5.8bn as BHP circles

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Original article by Bridget Carter
The Australian – Page: 13 & 16 : 26-Nov-24

Anglo American has agreed to sell its five metallurgical coal mines in Queensland to US-based Peabody Energy for up to $US3.8bn ($5.8bn). The deal includes a contingent cash consideration of $US450m that is linked to the reopening of the Grosvenor mine, where production was halted by an underground fire in June. Stanmore Resources and Yancoal Australia also submitted bids for Anglo’s coal assets. The sale of the Queensland mines is part of Anglo’s strategy to focus on its copper, iron ore and crop nutrient operations. Meanwhile, BHP will be free to make a new bid for Anglo later this week, when a six-month embargo under the UK’s takeover laws expires.

CORPORATES
ANGLO AMERICAN PLC, PEABODY ENERGY CORPORATION, STANMORE RESOURCES LIMITED – ASX SMR, YANCOAL AUSTRALIA LIMITED – ASX YAL, BHP GROUP LIMITED – ASX BHP

Green light for three coalmine extensions

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Original article by Colin Packham
The Australian – Page: 1 & 4 : 25-Sep-24

The federal government has approved the expansion of coal mines owned by Whitehaven Coal, MACH Energy and Ashton Coal Operations in the Hunter Valley region of NSW. Environment Minister Tanya Plibersek has emphasised that they are existing projects rather than new ones, and there will be limited clearing of land in order to protect threatened species. However, Carmel Flint from the Lock the Gate ­Alliance says it is shameful that the government has approved the thermal coal min expansions when it is supposed to be committed to a net-zero emissions target of 2050.

CORPORATES
WHITEHAVEN COAL LIMITED – ASX WHC, MACH ENERGY AUSTRALIA PTY LTD, ASHTON COAL OPERATIONS PTY LTD, AUSTRALIA. DEPT OF CLIMATE CHANGE, ENERGY, THE ENVIRONMENT AND WATER, LOCK THE GATE ALLIANCE INCORPORATED

Big Glencore shareholders united on coal

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Original article by Peter Ker
The Australian Financial Review – Page: 15 : 30-Jul-24

Glencore CEO Gary Nagle initially proposed demerging its coal division in early 2023. However, some large shareholders want the global mining group to retain its coal assets, including its coking and thermal coal mines in NSW and Queensland. Australian coal shipments accounted for 52 per cent of Glencore’s earnings in 2023, although it also owns coal mines in Colombia, South Africa and Canada. Glencore recently completed the acquisition of Teck Resources’ coal mines in Canada.

CORPORATES
GLENCORE PLC, TECK RESOURCES LIMITED

Sev.en abandons its bid for ownership of Coronado

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Original article by Glen Norris
The Australian – Page: 15 & 18 : 26-Jun-24

Coronado Global Resources has advised that private equity firm Energy & Minerals Group has terminated a deal to sell a 51 per cent stake in the coal miner to Prague-based Sev.en. The $1.5bn deal had been slated to be completed on 22 June, but Coronado notes that amongst other things it had not received approval from the Foreign Investments Review Board by the deadline. The price of metallurgical coal has also fallen sharply since Sev.en launched its bid for control of Coronado in September, prompting doubts that the deal would proceed.

CORPORATES
CORONADO GLOBAL RESOURCES INCORPORATED – ASX CRN, ENERGY AND MINERALS GROUP, SEV.EN GLOBAL INVESTMENTS