27
Feb
01:22
Stanmore Resources’ profit hit by lower coal prices
Australian coal miner Stanmore Resources has reported lower profit in the year ended 31 December 2023 (FY23) due to the decline in the coal sales price, Kallanish notes.
The group says in a statement that its net profit fell 35% to $472.4 million in FY23 from $727.4m a year ago.
The group’s revenue for the year, however, grew 4% to $2.8 billion from $2.7 billion a year earlier on higher coal sales.
The firm’s coal sales for the year stood at 12.8 mil…
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Anonymous
Very good overview of the weekly steel market.
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