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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Liontown Resources' new debt deal reflects declining fortunes of Australian lithium marketThe new debt deal of Liontown Resources is worth $550 million and matures in October 2025. The company's CEO will likely seek further funding by the end of this year. The previous deal included six commercial banks, but only three have signed onto the new agreement. Government agencies Export Finance Australia and the Clean Energy Finance Corporation have also remained involved.
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