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Whitehaven Coal Limited : Annual Report 2013
Narrabri Our Narrabri mine commenced development in early 2010 and the longwall operation began in June 2012. In this short period of time we have built a new, largely local, highly skilled workforce which has achieved some outstanding results. The rst longwall change out was completed in July this year, on-time and on-budget -- by industry standards this was an excellent outcome. The mine is now operating consistently at levels approaching its full production rates and preparation is commencing for the second longwall changeout. Signi cant work to address the quality of the Narrabri thermal coal product was completed recently ensuring that all thermal coal sold in FY2014 will meet Newcastle benchmark speci cations. Sustainability We are running a sustainable business within a sustainable industry. Whitehaven has been operating in partnership with the north-west New South Wales community (where all our production is located) since 1999. We are the largest coal producer in the Gunnedah Basin, with our coal travelling by rail to the Port of Newcastle before being shipped to our customers in Japan, Korea, Taiwan, India and China. We want to ensure that the overall impact of our business, our people and our operations is positive for the community in which we live. Our challenge, every day, is to conduct our business in the most ethical, e cient, and sustainable manner possible. This year we have provided shareholders and stakeholders with a detailed sustainability review. This review starts on page 20 of this document and outlines our approach and performance in relation to our people, our communities, the environment and health and safety. It also provides context by outlining the broad bene ts we bring to the broader community. Like all extractive industries, our operations do impact on the environment and communities. We aim to minimise, and where possible, eliminate these impacts -- and to ensure that our presence delivers the communities in which we operate the greatest net bene t possible. Our target is to ensure we have zero environmental incidents. We want to do this in the most ethical and rigorous manner possible and this can only be achieved through open and honest consultation and partnership with our broad range of stakeholders. We understand that our social licence to operate is dependent on operating not just technically within our approved conditions, but through endeavouring to listen, understand and genuinely engage with members of our broader stakeholder community. Importantly, we also make a signi cant economic contribution to the community, through long-term employment, royalties, contributions to local councils to support infrastructure, contracts with local businesses and the investment we make each year in running our business. We are very proud that more than 80% of our 600-plus employees live and work locally -- where they, and their families, form a large part of our local community. What is good for the community is also good for them, and vice versa. The health and safety of our people is paramount and our approach to health and safety is non-negotiable. Our most important asset is our people. We want them to return home safely to their families and friends at the end of every work day. Management and people I would like to take this opportunity to thank both Tony Haggarty and Paul Flynn. Paul assumed the role of Managing Director and Chief Executive O cer from Tony in March 2013. Tony indicated publicly at the time of the merger that he would be continuing as Managing Director of the merged entity, but not inde nitely, and this position was rea rmed at the Company's AGM in November 2012. As one of Australia's most successful and respected mining company executives, Tony's contribution and commitment to the growth and development of Whitehaven and its operations has been outstanding. His reputation both within and outside our business is exemplary and we enjoy his ongoing contribution to our business as a Non-executive Director. Since taking on the role Paul has displayed unquestionable commitment and brought his own energy and rigor to the role. We welcome his approach to the complex business challenges we face, and his focus on ensuring not only our "front bench" but all levels of our business are prepared for the next phase of our development. On behalf of the Board I thank Paul, Tony, and our highly capable senior management team and workforce for their e orts during FY2013. The Hon. Mark Vaile AO Chairman 5 Whitehaven Coal Limited Annual Report 2013 Chairman's Letter
Annual Report 2012