Whitehaven Coal royalties alleged “arrangement” exposed in NSW Supreme Court
Whitehaven Coal’s scheme to reduce coal royalty payments has been disclosed in a three-day hearing before Justice David Hammerschlag, Chief Judge in Equity of the NSW Supreme Court. It was revealed that for years Whitehaven used the small Canyon Mine near Gunnedah, which was closed and has not produced coal since 2008, to generate fictitious “negative royalties” that it could transfer to other mines to reduce the parent company’s liability to the State of NSW. Location of Whitehaven Coal’s Canyon Mine, the mine that keeps on giving – even after closure. Whitehaven now…continue reading →