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Whitehaven Coal in massive profit slide as pandemic downturn hammers coal price – NEWS.com.au
Whitehaven Coal in massive profit slide as pandemic downturn hammers coal price
Whitehaven Coal has suffered a major hit to earnings due to tanking coal prices and appears to be holding off on its Vickery mine expansion in NSW, saying it remains cautious about expansion and capital allocation.The company posted a net profit for 2019-20 of $30 million, a 95 per cent plunge compared with the previous financial year.
Import restrictions imposed by the Chinese Government and the lockdown of Indian and north Asian economies reduced demand and caused thermal coal prices to plumm…
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