WHITEHAVEN Coal may use the $2.65 billion of cash reserves on its balance sheet to fund its thermal coal operations if necessary after National Australia Bank withdrew an undrawn $1 billion credit facility for the company's Maules Creek mine in New South Wales.
The previously held $1 billion undrawn facility has not been renewed.
Banks are increasingly turning away from thermal coal operations in an attempt to decarbonise their portfolios. It is understood Whitehaven can still access credit for the growing proportion of metallurgical...
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