Coal miner New Hope Corporation is bracing for extreme volatility in the export market to persist for some time yet, as a coronavirus-driven global glut keeps coal prices stubbornly low | NickToscano1 AlexDruuuce
Coal miner New Hope Corporation is bracing for extreme volatility in the export market to persist for some time yet, as a coronavirus-driven global glut keeps coal prices stubbornly low.
Wilsons analysts noted New Hope made $345.1 million in pre-tax write-downs for the year to July 31, including the impairment of its Queensland mining assets, coal exploration, and a near-total write-down of the Bridgeport oil business."While new management look to effectively 'kitchen sink' this year's results, the quantum of the write-downs is surprisingly large," the analysts said.
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