Whitehaven grapples with quality of coal and new boss

Incoming Whitehaven Coal managing director Paul Flynn has failed to restore confidence in the stock in recent meetings with fund managers, with some concerned about his lack of operating experience and his presentation skills, according to the Australian Financial Review.

Within the company there are hopes such concerns can be allayed when new operations head Jamie Frankcombe, formerly in the same role at Fortescue Metals Group, does the rounds in the coming weeks.

The lacklustre reviews come amid ongoing uncertainty about Nathan Tinkler’s 19.4% stake in the company.

The true state of the coal magnate’s finances could be laid bare this week, with the NSW Supreme Court set to rule today on whether liquidators examinations are an abuse of court process. Tinkler’s financial backers, Noonday and Credit Suisse, are said to have handed documents to Ferrier Hodgson, liquidator of his company, Mulsanne Resources.

Yancoal Australia chief to stand down today

Yancoal Australia chief executive Murray Bailey will stand down today and group chief operating officer Peter Barton will assume the role pending a search for Bailey’s replacement, according to the Australian Financial Review.

Bailey announced he would step down on February 11 after joining the board in 2010.

His exit comes amid speculation of tensions with the miner’s Chinese-controlled board.

It is believed Bailey has grown frustrated with some of the directors from Yancoal’s parent, Yanzhou Coal Mining, which is listed in Shanghai and Hong Kong. Yancoal decided not to renew his contract.

Miners lobby’s 'last hope' Tony Abbott

Resource employers have declared the Coalition the business community's "last hope" on workplace relations, urging Tony Abbott to commit to changes to the Fair Work Act that would allow companies to reach four-year non-union agreements with employees that ban strikes, according to The Australian.

The Australian Mines and Metals Association has written to Julia Gillard and the Opposition Leader calling on them to support an array of changes to workplace laws, asserting that the current legislation is not compatible with Australia remaining a "competitive destination for investment and job creation".