Revenue cap: A file picture showing coal at the Hay Point Coal Terminal that receives coal along the Goonyella rail system in Australia. A regulator has proposed a cap on Aurizon’s revenue over the four years to 2021, 20 less than what the firm sought. — Reuters
MELBOURNE: Australia’s top coal hauler, Aurizon Holdings Ltd, is on course for a showdown with the world’s biggest coal exporters after a regulator capped the revenue it can charge at A$1bil (US$783mil) less than the company sought.
BHP Billiton, Glencore, Anglo American, Peabody Energy and others face cuts of nearly a tenth of their coal export volume from Queensland state, the country’s biggest coal exporter, after Aurizon said the tough revenue cap would cut throughput on its network.
Limited time offer:
Just RM5 per month.
