A hoax press release connected to the Maules Creek mine has seen the value of shares in Nathan Tinkler’s Whitehaven Coal slashed by $314-million.
The media release, claiming to be from ANZ banking, falsely said that a $1.2 billion loan, intended to develop the Maules Creek mine project had been withdrawn.
The hoax document cited cost blow outs, as well as the effect on farmers and the environment as the reason for the bank’s decision.
The man behind the stunt, anti-coal activist Jonathan Moylan, maintains his actions were justified.
And we’ll have more on Whitehaven Coal’s share price later in finance.
(Vision- No Audio)
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There is nothing responsible about clearing an endangered woodland forest for a giant, open cut coal mine.
What about leaving a massive void that will act as a sink for water table depletion and cause contaminate leaching into our water for centuries? What about the emissions from burning the coal? The destruction of koalas and other wildlife in the forest? What about the quality of life of those who live nearby or use the same aquifers, plus the dust and blasting? Why is this mine approved for open cut in such a sensitive area?
Call that responsible?
Investors should ask instead “where do we draw the line for defining what is actually responsible in this mad rush of mining”. Then go and put your money into something else.