Tag: Winchester South

ACCORDING to the Queensland Resources Council (QRC), the resources sector added $74.3b to the State’s economy in 2018-2019 – and with new mining developments underway, the economy is set to grow even further in 2020 and beyond. QRC Chief Executive Ian Macfarlane said the sector already supports more than 316,000 jobs across the state, earns 80pc of Queensland’s exports and generates more than $5b in royalties for the State Government. “Queensland’s resources sector is now supporting one in every seven jobs, and one in every five dollars for Queensland’s economy,” Mr Macfarlane said. “That means from Burleigh Heads to Brisbane and from Mackay to Mount Isa, the resources sector is powering local economies and employing local people. “This year’s figures...

WHITEHAVEN Coal has more than doubled its coal production over the last five years, with further upside expected ahead as its Vickery extension and Winchester South projects come online. The first half of FY19 saw Whitehaven Coal post a net profit of $305.8 million after tax, sales revenue grow by 11 per cent, and its net debt pile shrink to $244.2 million. While the company reported a positive outlook for the rest of 2019, it had downgraded its FY19 guidance from between 22 and 23 million tonnes to between 21.5 and 22.5 million tonnes amid issues at its Narrabri mine. But other than an expected decrease in production, it was clear skies ahead for Whitehaven Coal. In a recent investor briefing,...