Newcastle councillors push to buy back half of port
Greens councillors want to buy back Macquarie Asset Management's half of the Port of Newcastle, valued at over $1.5 billion.
Newcastle's Greens councillors want to buy back the Port of Newcastle from private hands. Macquarie Asset Management is considering selling its half stake, worth more than $1.5 billion.
Councillor Siobhan Isherwood says public ownership would let Newcastle make decisions that help the community, not private owners. The state government sold the port in 2014 for $1.75 billion.
Why it mattersPublic ownership could change how Newcastle runs a key asset. The city is moving away from coal toward a cleaner economy.
AustraliaNewcastle ratepayers could end up co-owning the port, and how the council funds the buyback will shape rates and the city's shift away from coal jobs.
✓ Claims checked against the source. checked 58 d ago
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