Celebrate Move Beyond Coal NAB campaign
What: restorative yoga and taco potluck
Where: at the new Greenpeace office, 2C Hayes Rd, Rosebery
When: Thursday July 20th from 6.30pm
Whitehaven’s rotating debt facility expires at the end of July, and there has been no news whether NAB will renew this $110 million loan. In the past loan cycles, Whitehaven has renewed funding a year from the loan’s maturity date but this year, there is no announcement in sight. Whitehaven are actually flush with cash at the moment, owing to the record high coal prices. Whitehaven does not want to use its own money to fund its expansion plans and as of May 2023, are still seeking to renew their loan. But even in this strong financial position, the bank’s reticence to renew the loan could be a sign that loaning to coal is not an enticing prospect. No news is good news, and the movement will likely get a confirmation through Whitehaven’s announcement on the stock market by August.
Our work to date has put Whitehaven in a really hard position on this deal and that is worth celebrating! While we wait to hear about the outcome of our campaign against NAB and Whitehaven, it is important to celebrate our efforts, reflect on our work and take a rest.