New Hope mining company referred to Asic, accused of misleading investors over future of coal

Investor action group Market Forces says coal company is building a financial house of cards' by telling shareholders coal will remain significant' in energy mix

Shareholder activist group Market Forces has asked the corporate watchdog to investigate whether coal company New Hope misled investors by claiming that coal would remain a significant part of the energy mix".

In letters sent to New Hope Corporation and the Australian Securities and Investments Commission, lawyers for Market Forces have alleged that statements by the company's chief executive, Reinhold Schmidt, may amount to misleading and deceptive conduct" under the Corporations Act.