Japanese banks fund Whitehaven Coal

December 8, 2022
Photo: Supplied

Members of Move Beyond Coal visited the offices of three Japanese banks in the Sydney CBD on December 5 demanding that they stop funding Whitehaven Coal.

Sumitomo Mitsui Banking Corporation, MUFG Union Bank, and Mizuho Bank belong to 12 banks that refinanced Whitehaven’s $1 billion syndicated debt in February 2020.

That debt matures next July and Whitehaven are in negotiations to refinance the loan.

Whitehaven is the biggest coal mining company listed on the Australian shares market.

Since being listed on the Australian Securities Exchange in 2007, Whitehaven has derived 100% of its revenues from coal.

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