News Wrap

IN THIS morning’s News Wrap: Water NSW unhappy with Springvale coal mine pollution plan; mining sector told to lift game on mental health; and shareholders call for CuDeco chairman's resignation.

Lou Caruana

Water NSW unhappy with Springvale coal mine pollution plan

Water NSW, the state agency overseeing Sydney's water supplies, wants changes to a proposed Blue Mountains coal mine extension, to limit the impact of salt on Lake Burragorang, according to the Sydney Morning Herald.

The NSW Environment Protection Authority has negotiated a deal with Centennial Coal, the owner of the Springvale underground coal mine near Lithgow, to cut the level of salt released by the project into the Coxs River before an expansion plan can proceed.

A spokeswoman for Water NSW said on Thursday that the agency wanted aspects of Springvale's waste plans changed, with the mine expansion possibly raising salinity levels of Lake Burragorang by as much as 6%.

Mining sector told to lift game on mental health

Australia's mining and finance giants are being urged to publish more information about how they support the mental health of their staff, with a new report finding these industries lag overseas peers, according to the Australian Financial Review.

While most companies have measures to support the mental well-being of their staff – such as flexible workplace policies – a new study found there is little disclosure on the effectiveness of these programs.

The research, commissioned by the Australian Council of Superannuation Investors, found about a third of big financial and mining companies on the ASX 200 published information about the impacts of the mental health programs.

Shareholders call for CuDeco chairman's resignation

CuDeco's three largest shareholders are attempting to roll the copper hopeful's chairman Wayne McCrae, who has tentatively agreed to resign on Friday if certain conditions are met, according to the Australian Financial Review.

CuDeco shares have been suspended from trading since the company’s bid to raise funds through a share issue to Chinese investment Focus Sun Holdings was rejected in late June by shareholders, forcing CuDeco to scramble to find an agreeable alternative.