The coal producer found “unnecessary” layers of complexity and duplication at the Daunia and Blackwater sites since acquiring them for $6.4 billion in April.
A Whitehaven spokesman said “unnecessary” layers of complexity and duplication were to be stripped out of the assets it acquired in April under a deal that could ultimately cost as much as $US4.1 billion .
Whitehaven has argued that the Daunia and Blackwater workers will be employed on terms “no less favourable” than they were under BHP’s ownership. Coal has not suffered the sort of price weakness witnessed in iron ore, nickel and lithium this year.Top quality hard coking coal from Queensland was fetching $US205 a tonne on August 15 according to S&P Global Platts, which is a high level historically.
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