Approval for Whitehaven expansion
Whitehaven and Japanese partner Idemitsu, which owns 30 per cent of the mine, have gained state approval to lift production at Tarrawonga from 2 million to 3 million tonnes of coal a year and extend the project life to 2030.
The Tarrawonga expansion project now awaits approval from the federal Environment Minister, Tony Burke, who is also set to announce a decision on Whitehaven's Maules Creek project and Idemitsu's Boggabri expansion, both nearby.
The three projects will require most of the Leard State Forest to be cleared. In a dramatic protest earlier this month Front Line Action on Coal activist Jonathan Moylan grabbed national attention when he issued a fake ANZ press release purporting to withdraw a loan to Whitehaven.
The hoax sparked a run on Whitehaven shares, which fell 9 per cent within minutes but recovered after a trading halt put an end to the misinformation.
Whitehaven's managing director, Tony Haggarty, welcomed the decision. Whitehaven shares closed on Friday unchanged at $3.50.
Frequently Asked Questions about this Article…
The NSW government approved an expansion of the Tarrawonga coalmine that lifts production and extends the project life. This state approval allows Whitehaven (with partner Idemitsu) to increase output and run the mine for longer, subject to federal sign-off.
The Tarrawonga expansion would increase production from 2 million tonnes to 3 million tonnes of coal per year and extend the project life to 2030, according to the state approval.
Whitehaven Coal is the operator of Tarrawonga and Japanese partner Idemitsu owns a 30% stake in the mine, as noted in the article.
Yes. The Tarrawonga expansion now awaits approval from the federal Environment Minister, Tony Burke, before it can proceed beyond the NSW state approval.
Yes. The federal minister, Tony Burke, is also set to announce decisions on Whitehaven's Maules Creek project and Idemitsu's Boggabri expansion, both of which are nearby.
The three projects (Tarrawonga, Maules Creek and Boggabri) will require most of the Leard State Forest to be cleared, according to the article.
A protester, Jonathan Moylan, issued a fake ANZ press release claiming ANZ had withdrawn a loan to Whitehaven. The hoax triggered a sharp share sell-off—Whitehaven shares fell about 9% within minutes—but a trading halt stopped the misinformation and the shares later recovered, closing unchanged at $3.50 on Friday.
Whitehaven's managing director, Tony Haggarty, welcomed the NSW government's decision to approve the Tarrawonga expansion.
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