In this Nov. 27, 2012, photo, White House press secretary Jay Carney speaks during his daily news briefing at the White House in Washington. Senate Democrats are deeply divided over whether cuts to popular benefit programs like Medicare and Medicaid should be part of a plan to address the nation’s financial problems, raising a big obstacle to an agreement to avoid the fiscal cliff, even if Republicans agree to raise taxes. Much of the focus during budget negotiations has centered on whether congressional Republicans would agree to raise taxes in exchange for spending cuts. "It is the president's position that when we're talking about a broad, balanced approach to dealing with our fiscal challenges, that that includes dealing with entitlements," Carney said Tuesday. (AP Photo/Pablo Martinez Monsivais)
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In this Nov. 27, 2012, photo, White House press secretary Jay Carney speaks during his daily news briefing at the White House in Washington. Senate Democrats are deeply divided over whether cuts to popular benefit programs like Medicare and Medicaid should be part of a plan to address the nation’s financial problems, raising a big obstacle to an agreement to avoid the fiscal cliff, even if Republicans agree to raise taxes. Much of the focus during budget negotiations has centered on whether congressional Republicans would agree to raise taxes in exchange for spending cuts. "It is the president's position that when we're talking about a broad, balanced approach to dealing with our fiscal challenges, that that includes dealing with entitlements," Carney said Tuesday. (AP Photo/Pablo Martinez Monsivais)
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FILE - In this July 6, 2011, file photo, President Barack Obama sits in front of a screen displaying a question he tweeted during a "Twitter Town Hall" in the East Room of the White House in Washington. President Obama is introducing a new hashtag to the fiscal cliff debate. The White House plans to promote (hashtag)My2K on Twitter and other social media — a reference to the estimated $2,200 tax increase that a typical middle-class family of four would see if the Bush tax cuts expire. (AP Photo/Charles Dharapak, File)
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FILE - This Nov. 13, 2012 file photo shows Sen-elect Elizabeth Warren, D-Mass., left, and Sen-elect, current Rep. Tammy Baldwin, D-Wis. walking together on Capitol Hill in Washington. When the next Congress cranks up in January, there will be more women, many new faces and 11 fewer of the tea party-backed 2010 House GOP freshmen who sought re-election. Overriding those changes, though, is a thinning of pragmatic, centrist veterans in both parties. Among those leaving are some of the Senate’s most pragmatic lawmakers in both parties, nearly half the House’s centrist Blue Dog Democrats and several moderate House Republicans. (AP Photo/Pablo Martinez Monsivais, File)
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FILE - This Nov. 6, 2012 file photo shows Sen.-elect Deb Fischer, R-Neb. speaking in Lincoln, Neb. When the next Congress cranks up in January, there will be more women, many new faces and 11 fewer of the tea party-backed 2010 House GOP freshmen who sought re-election. Overriding those changes, though, is a thinning of pragmatic, centrist veterans in both parties. Among those leaving are some of the Senate’s most pragmatic lawmakers in both parties, nearly half the House’s centrist Blue Dog Democrats and several moderate House Republicans. (AP Photo/Dave Weaver, File)
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FILE - This Nov. 13, 2012 file photo shows Sen.-elect Ted Cruz, R-Texas speaking to reporters on Capitol Hill in Washington. When the next Congress cranks up in January, there will be more women, many new faces and 11 fewer of the tea party-backed 2010 House GOP freshmen who sought re-election. Overriding those changes, though, is a thinning of pragmatic, centrist veterans in both parties. Among those leaving are some of the Senate’s most pragmatic lawmakers in both parties, nearly half the House’s centrist Blue Dog Democrats and several moderate House Republicans. (AP Photo/Harry Hamburg, File)
Yancoal CEO to depart on July 6
Yancoal Australia says its chief executive Murray Bailey will not have his contract renewed when it expires on July 6.
The company has already begun a search for Mr Bailey's replacement.
Mr Bailey, who had been required to commute between Brisbane and Sydney, would now be able to spend more time with his Brisbane-based family, the company said in a statement on Monday.
"The board of Yancoal would like to thank Murray for his contribution to the company since he joined in 2010," Yancoal said in a statement.
Chinese-owned Yancoal joined the local share market in June 2012, after merging with Gloucester Coal, and owns several operating thermal and coking coal mines, both underground and open cut, in NSW, Queensland and Western Australia.
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