Whitehaven Coal Ltd
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| Public company | |
| Traded as | ASX: WHC |
| ISIN | 🆔 |
| Founded 📆 | 1999 in Australia |
| Founder 👔 | |
| Headquarters 🏙️ | , Sydney , Australia |
Areas served 🗺️ | Australia |
Key people | Paul Flynn (Managing Director) Mark Vaile (Chairman) |
| Revenue🤑 |  A$1,721.6 million (2020)[1] (2020) |
 A$30 million (2020)[1] | |
| Total assets | A$433 million (2020)[1] (2020) |
| Members | |
Number of employees | 2,500 (2020)[1] (2020) |
| 🌐 Website | whitehavencoal |
| 📇 Address | |
| 📞 telephone | |
Whitehaven Coal Ltd is an S&P/ASX listed mining company with a market capitalisation of $1.31 billion.[2]
In 2011 Whitehaven and mining group, Aston Resources, agreed to a merger.[3]
Whitehaven Coal now derives revenue from the development and operation of coal mines and employs approximately 2,500 people, predominantly in New South Wales and Queensland, and is administered by its head office in Sydney, NSW.[4]
History[edit]
Whitehaven Coal was established in 1999, initially to develop the Canyon mine near Gunnedah, NSW. Operations were later expanded to include Tarrawonga and Werris Creek, before Whitehaven Coal floated on the ASX in 2007 under the code WHC.
In 2011 it merged with Aston Resources Ltd, another mining company operated by Nathan Tinkler, an Australian mining industry executive and who started out as a mining apprentice in the Hunter Valley, in New South Wales and set up his own business at age 26.[5]
Operations[edit]
Directors are Mark Vaile (Chairman), Paul Flynn (Managing Director), John Conde, Julie Beeby, Fiona Robertson, Lindsay Ward and Raymond Zage.
Whitehaven is a major company in Australia producing high-quality coal for export to Asia where it says there is strong and growing demand for coal used in high-efficiency, low-emissions coal-fired power stations.[6] It operates four mines (three open-cut and one large underground mine) in the Gunnedah Coal Basin of NSW. They are Maules Creek, Narrabri, Tarrawonga and Werris Creek. It also has two, near-term development assets, one in Vickery, near Gunnedah, and another at Winchester South, in Queensland’s Bowen Basin. Around 75 per cent of its 2,500-strong workforce lives in the local communities around the mine sites.
Controversies[edit]
It has been involved in various legal stoushes with former billionaire and bankrupt Nathan Tinkler.[7][8] In August 2017 it was reported that Freedom of information documents showed Whitehaven Coal had breached environmental licence regulations.[9] In October 2020 a majority of Whitehaven shareholders rejected a move by a minority to wind up its coal operations.[10] In April 2021, the company was forced to defend a decision to bury 870 tyres under state forest land.[11]
References[edit]
- ↑ 1.0 1.1 1.2 1.3 "WHC Report 2020" (PDF).
- ↑ "ASX Listed Companies (Full List) - Market Index". MarketIndex.com.au. Retrieved 2021-05-26.
- ↑ "Tinkler's Aston and Whitehaven in $5.1b merger deal". The Sydney Morning Herald. 2011-12-11. Retrieved 2021-05-26.
- ↑ "IBISWorld - Industry Market Research, Reports, and Statistics". www.ibisworld.com. Retrieved 2021-05-26.
- ↑ "Nathan Tinkler: billionaire to bankrupt plots coal comeback". Australian Financial Review. 2021-02-04. Retrieved 2021-05-26.
- ↑ "Our business – Whitehaven Coal". whitehavencoal.com.au. Retrieved 2021-05-26.
- ↑ "Nathan Tinkler: billionaire to bankrupt plots coal comeback". Australian Financial Review. 2021-02-04. Retrieved 2021-05-26.
- ↑ "Whitehaven stumble brings Tinkler tensions to the boil". Australian Financial Review. 2021-04-15. Retrieved 2021-05-26.
- ↑ Murphy, Jamieson (2017-08-07). "Secret documents show Whitehaven's 'history of willing negligence'". The Northern Daily Leader. Retrieved 2021-05-26.
- ↑ "Whitehaven Coal shareholders reject push to wind up coal operations". www.abc.net.au. 2020-10-22. Retrieved 2021-05-26.
- ↑ "Anger at mine's plan to bury hundreds of tyres in forest". www.abc.net.au. 2021-04-15. Retrieved 2021-05-26.
External links[edit]
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