According to The Australian Financial Review, Japanese conglomerate Itochu has missed a self-imposed deadline to exit its Australian thermal coal investments.
Itochu announced in January 2021 that exiting thermal coal mining would be a strategic priority for the three-year period to March, and that it would fully divest its four thermal coal assets by that deadline. Itochu has sold three of those four thermal coal assets, but continues to own 15 per cent of Whitehaven Coal’s Maules Creek mine, after observing a “change in decarbonisation trends” since global energy markets were roiled by Russia’s invasion of Ukraine. https://www.afr.com/companies/mining/japan-s-itochu-delays-plans-to-exit-australian-thermal-coal-20240610-p5jknm
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