News Wrap

IN THIS morning’s News Wrap: Greens plot exit from fossil fuels by 2030; Newcrest wields the axe at Lihir; and Macdonald allegedly misled parliament on Obeid family coal licence.

Lou Caruana

Greens plot exit from fossil fuels by 2030

The Greens’ New South Wales branch will unveil a bold plan this week to close down every coal or gas-fired power plant in the state by 2030, while guaranteeing employment for displaced power sector workers, according to the Sydney Morning Herald.

The proposal, to be put before State Parliament on Thursday, would cost $8.2 billion a year. It would be partly funded by removing fuel subsidies for mining and power companies that amount to about $2 billion.

The Greens concede that the plan, which relies on the work of University of NSW researchers and the environment group Beyond Zero Emissions, is unlikely to gain much support from the Coalition or Labor.

Newcrest wields the axe at Lihir

Embattled gold producer Newcrest Mining has begun cutting jobs at its giant Lihir mine in Papua New Guinea as it recalibrates the operation to suit the lower gold price, according to the Australian Financial Review.

By the end of the week, Newcrest is expected to lay off about 150 of its 2500 employees at Lihir, one of the world’s biggest gold mines and a major contributor to the PNG economy.

Despite reports from PNG suggesting as many as 450 jobs would be lost, a Newcrest spokeswoman clarified that 5 to 7% of direct employees would go. Some contractors are also likely to be affected.

Macdonald allegedly misled parliament on Obeid family coal licence

The NSW parliamentary privileges committee chairman Trevor Khan said yesterday that former NSW mining minister Ian Macdonald misled parliament when he claimed he had no role in issuing a coal licence over land owned by Eddie Obeid and his family, according to The Australian.

The committee is investigating why hundreds of pages of documents about the exploration licence were withheld from public release in defiance of a parliamentary order.