Arab Today, arab today australia\s whitehaven duped by news hoax
Last Updated : GMT 03:39:17
Arab Today, arab today
Arab Today, arab today

Australia\'s Whitehaven duped by news hoax

Arab Today, arab today

Arab Today, arab today Australia\'s Whitehaven duped by news hoax

Sydney - AFP

Australia's Whitehaven Coal on Monday said it had been the victim of a hoax after its share price plunged on a fake press release claiming funding for a major project had been withdrawn. Whitehaven, whose major shareholder is Singapore-based Australian millionaire Nathan Tinkler, requested a trading halt after its shares tanked 8.8 percent, wiping more than Aus$314 (US$329) million off its value. The dive followed a media alert around midday Monday purporting to be from major lender ANZ bank claiming it had withdrawn Aus$1.2 billion in funding for Whitehaven's flagship Maules Creek mine. Once trading in the firm was resumed it clawed back most of the losses to end just 0.57 percent lower. The S&P/ASX 200 index was off 0.14 percent. The press release, which was actually from anti-coal activists, blamed "reputational risks and analysis of the returns on this mine in the current climate of high volatility in the coal export market". Whitehaven issued a statement to the Australian stock exchange explaining that it was fake. "Whitehaven Coal Limited has been made aware of a hoax media release suggesting ANZ has withdrawn its recently announced $1.2 billion banking facility to Whitehaven," the miner said. "There is no substance to the hoax media release." ANZ issued a statement confirming it had not issued the release, which was reported by a number of news outlets. "This media release is a hoax and was not issued by ANZ," the bank said. "There have been no announcements from ANZ regarding Whitehaven Coal. ANZ remains fully supportive of Whitehaven Coal." Whitehaven has several operating coal mines in New South Wales state and exploration assets there and in Queensland. Its Maules Creek project, which is yet to receive approval from the Australian government, is expected to commence production this year. It is set to be one of the world's largest open-cut coal mines. The activist claiming responsibility for the hoax, Jonathon Moylan, told Fairfax newspapers he believed the action was warranted. "We considered the decision to run a spoof very carefully before we did it, but we believe it is justified," said Moylan from the Frontline Action on Coal protest group, which is opposed to coal development in the Maules Creek area. "Our primary concern is the impact of this mine on the environment at the end of the day."

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australia\s whitehaven duped by news hoax Arab Today, arab today australia\s whitehaven duped by news hoax

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 11:47 2017 Wednesday ,22 February

Toshiba skyrockets over 22% on chip unit sale hopes

GMT 11:31 2017 Wednesday ,22 February

Bayer says Monsanto deal on track, eyes record 2017

GMT 10:49 2017 Wednesday ,22 February

Airbus says profits hit by military plane woes

GMT 06:43 2017 Wednesday ,22 February

LuLu festival offers a taste of Egypt

GMT 06:11 2017 Wednesday ,22 February

Russia’s Rosneft, Libya’s NOC sign oil offtake deal

GMT 05:49 2017 Wednesday ,22 February

‘PSA to honor Opel job guarantees’

GMT 05:41 2017 Wednesday ,22 February

BHP to Trump: Protectionism will hurt growth
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday