Business
New Hope in the black despite coal collapse – The Australian Financial Review
The miner’s new chief executive says the company is making money despite depressed prices for thermal coal.
Wood Mackenzie’s Asia Pacific head of coal, Rory Simington, estimated last week that 52 per cent of Australian thermal coal mines lost money at prices around $US51 per tonne.
Mr Schmidt and New Hope’s chief financial officer Rob Bishop said the company’s Bengalla and Acland mines were collectively making money at current prices.
New Hope has deferred non-essential spending, cancelled its final dividend, deferred some government payments, asked its white-collar staff to work nine rather than 10…
-
Noosa News24 hours agoCleveland line train services halted after truck crash at Pine Street bridge in Wynnum
-
General22 hours agoBrisbane homelessness services report 48 per cent increase in number of children being supported
-
General23 hours agoLabor’s selective moral outrage over Candace Owens’ visa
-
Noosa News23 hours agoCoroner to rule if police were justified in deadly 2022 standoff with knife-wielding man at McDonald’s Marsden