Australian coal mining company plans to extend coal hub despite falling prices

New Hope, an Australian coal mining company, plans to extend its Bengalla coal hub beyond 2037, despite falling prices for coal. The company believes that nuclear power is the only realistic chance for achieving net zero emissions and intends to ask the NSW government for permission to expand coal output. New Hope also acquired two undeveloped tenements near its Bengalla mine. The company is approved to mine at Bengalla until 2039 but expects to exhaust the asset in 2037.

New Hope's CEO, Rob Bishop, believes that coal will continue to be needed for decades to come and that nuclear power is the only way to achieve net zero emissions

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