Solid growth in the mining sector is funding expansion into new areas.
The company has continued to invest despite the plunge in global oil prices.
Elliott has a history of shareholder activism and has just claimed a scalp at another target company
Wellington-based Bathurst will supply up to 65,000 tonnes of coal a year to an unnamed buyer for up to 10 years.
The investment was "good news for Wellington" as a team or around 20 would be hired from the city.
Shackleton said a review of the EPA's charging decisions had questioned "certain lawfulness" of at least some of the charges.
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