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Simon Nicholas
New Coal Mine Makes Even Less Sense than It Did Last Year; Hume Will Find it Hard to Compete with Higher-Quality Coking Coal
Despite the significant increase in coking coal prices that began in late 2016, the proposed Hume Coal project in the Southern Highlands of New South Wales seems no more likely to proceed now than it did when IEEFA reviewed it ten months ago. Hume Coal, a subsidiary of South Korea’s largest steel maker POSCO, has […]
Tim Buckley and Simon Nicholas
Proposed Mine Would Be a Money-Loser and Would Generate No Tax Revenues
We’ve published a report today that shows how a new coal mine proposed for the Southern Highlands of New South Wales is financially unviable and unlikely to proceed. Our research shows that the developer, Hume Coal, which is owned by the Korean steelmaker POSCO, cannot make a sound business case for the mine. IEEFA concludes […]
IEEFA
Peter Hannam for the Sydney Morning Herald: A new coal mine planned for the NSW Southern Highlands would lose money on every tonne produced and clock up a net cost to the owner of more than half a billion dollars, two new reports say. Hume Coal, owned by Korean steel giant POSCO, wants to develop […]
IEEFA Australia: Hume Coal Proposal Will Be Left Behind as Energy Markets Move On
New Coal Mine Makes Even Less Sense than It Did Last Year; Hume Will Find it Hard to Compete with Higher-Quality Coking CoalDespite the significant increase in coking coal prices that began in late 2016, the proposed Hume Coal project in the Southern Highlands of New South Wales seems no more likely to proceed now than it did when IEEFA reviewed it ten months ago. Hume Coal, a subsidiary of South Korea’s largest steel maker POSCO, has […]