Thermal Coal Pessimism and Higher Near-Term Coking Coal Forecasts See Value Emerge for Whitehaven
No-moat Australian coal producer Whitehaven Coal delivered 19% growth in net profit to AUD 306 million for first-half 2019. The rise was driven by buoyant prices for both thermal and metallurgical coal. Net of royalties, Whitehaven realised an average 17% increase in coal prices to AUD 142 per tonne. Revenue increased 11% despite an 11% fall in coal sales volumes, net of purchased coal, versus the first half of fiscal 2018.Production was soft in the half, primarily due to disruptions at Narrabr...
Whitehaven Coal is principally engaged in the development and operation of coal mines in New South Wales. Co. has two reportable segments: Open Cut Operations and Underground Operations. Mining operations include Maules Creek open cut mine (75% Co. ownership and operator); Narrabri underground mine (70% Co. ownership and operator); and three smaller open cuts mines, Tarrawonga (70% Co. ownership and operator), Rocglen (100% Co. ownership) and Werris Creek (100% Co. ownership).
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