Whitehaven Coal are desperately seeking joint venture partners to help dig them out of a financial hole. Japanese steelmakers such as JFE Steel, Nippon Steel and Itochu have been reported as potential partners. Here’s why smart companies shouldn’t risk their reputation by partnering with Whitehaven Coal.
Whitehaven Coal is Australia’s worst coal company.
Whitehaven Coal have been fined or investigated 35 times and committed more water pollution offences than any other coal company in Australia. Whitehaven Coal’s track record of reckless and illegal behaviour has destroyed their social licence and made them one of Australia’s most controversial and frequently litigated coal companies. Whitehaven Coal face multiple legal challenges to their coal projects.
Whitehaven Coal’s business plans are incompatible with a safe climate.
Whitehaven Coal is pursuing more coal expansion in Australia than any other company. Together, Whitehaven’s proposed coal projects could see an additional 3 billion tonnes of coal dug up and burned - unleashing over 8 billion tonnes of carbon emissions. Whitehaven Coal’s plans ignore the science of climate change and have made the company a major target of the Australian climate movement. Any business helping Whitehaven Coal destroy the climate will face serious community opposition.
Whitehaven Coal’s new and expanded coal projects will kill koalas.
Whitehaven Coal's massive coal projects will destroy over 7,500 hectares of koala habitat. Koalas are endangered and Whitehaven Coal’s coal projects will push them closer to extinction.
Partnering with Whitehaven Coal is risky business.
Whitehaven Coal’s plan to keep mining coal into the next century is delusional and extremely risky. Whitehaven Coal’s company value is at serious risk of being wiped out by rising production costs, increased royalty rates and tighter government regulation.