Moves by some of the world’s biggest banks to end coal financing for the sake of the planet was supposed to create major headaches for companies like Whitehaven Coal.
Yet there was the Australian miner on a conference call last month announcing the refinancing and extension of a A$1-billion credit line, backed mostly by Chinese and Japanese lenders.
“Our banking relationships are strong, we are really well supported,” CFO Kevin Ball said. “That might come as a little bit of a surprise to people who aren’t familiar with coal.”