Bathurst cuts forecast on delayed coal price recovery

Mon, 01 Feb 2021

Bathurst Resources has trimmed its full-year guidance by about 10 percent, citing a slower than expected recovery in export coking coal prices.The firm is expecting to report $55.4 million of earnings before interest, tax, depreciation and amortisation for the year ending June 30, down from the $62.1 million earlier forecast.About $5.9 million of the reduction is due to a weaker performance from coking coal exports from Stockton. Covid-19 impacts and a Chinese ban on Australian coal purchases left more Australian product in the market and put a...

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