Cashed-up miner buys trucking business

The Bis acquisition comes after Whitehaven in effect declaredlast year as part of efforts to increase housing options for prospective employees.

Whitehaven will spend at least $17 million under the housing plan buying land, subdividing it and either building homes for employees or providing incentives for employees to invest in building their own homes. In early 2020, Whitehaven also increased its ownership of Newcastle Coal Infrastructure Group when it acquired a portion of BHP’s shareholding in the port company.

Whitehaven’s push into haulage is so far constrained to road haulage and does not affect Aurizon’s contract to transport Whitehaven’s product from the Gunnedah basin to the Port of Newcastle.Whitehaven could soon start selling more of that top-quality coal, if it goes ahead with development of the Vickery mine in NSW.

The Whitehaven board was due to consider the start of mining at Vickery in March and is expected to clarify its plans for the mine this month.

But the world is moving away from coal?

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Source: FinancialReview - 🏆 2. / 90 Read more »