Griffin wants port space, not bailouts
Struggling coal miner Griffin has moved to dispel speculation about its financial health, insisting it has not sought and does not want concessions from the WA Government and its customers.
In a week in which Griffin's financial plight was laid bare, executive general manager David Trench said Griffin was only interested in securing coal exports through Bunbury.
In State Parliament this week, Collie Labor MP Mick Murray asked whether the Government would cut Griffin's royalties to prop it up, prompting Colin Barnett to rule out such a move.
Instead, the Premier said the Government was "not inflexible" to an increase in the price Griffin charged for its coal while imploring the Indian-owned miner to restructure its business.
Mr Trench said yesterday the comments from Mr Barnett and others about bailouts missed the point because Griffin did not want them.
Mr Trench said Griffin was focused on coal exports including an interim plan to ship it in boxes out of Bunbury by February. Shipping out of Bunbury could add up to $80 million a year in extra revenue for the miner - a result he claimed would restore it to profitability.
"We have not nor intend to burden the West Australian people with any pricing issues relating to coal, as Griffin does not provide fuel for the State-owned and operated generator, Verve," he said. "We are working with suppliers and clients to ensure for our part the coal mining industry in Collie is both sustainable and accountable for its actions."
