NC announcement should be this month, could go either way.
Thermal coal has dropped from $120's to $80's, but still better than $50's.
If NC bad news and SP tests lows (<125c) then I might back up the ute as I suspect they will slow down production to keep things ticking over while they start appeals, water permits, etc, and eventually get approval.
Ann: New Acland Stage 3 Approvals Update, page-5
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