The mining giant BHP is reportedly considering closing its Mt Arthur coal mine, in New South Wales, in advance of its 2030 target.
Sources noted that BHP had told the mine staff that it might need to bring forward the closure, due to state government's coal reservation scheme and a coal price cap announced by the federal government at the end of last year.
The New South Wales government would require thermal coal miners in the state reserve up to 10% of their output for domestic coal-fired power stations in a bid to address the near 4 million tonnes a year of supply shortfall to meet the need of power generators in the region.
This move followed on from the federal government in December introducing a 12-month price ceiling on domestic coal of A$125/t in New South Wales and Queensland in a bid to bring down domestic energy prices.
(Writing by Rebecca Liu Editing by Tammy Yang)
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