Latest news with #BowenCokingCoal
News.com.au
8 hours ago
- Business
- News.com.au
Queensland's Burton coal mine could shut leaving hundreds without work
Hundreds of workers at a Queensland coal mine may lose their jobs as its owner considers pausing operations over financial issues. The Burton coal mine, 80 kilometres northwest of Moranbah, has been attempting to ramp up production and lower costs, however the flood season and record low prices have put the facility in a tough position. The mine, which first opened in 2022, could 'pause' production within a matter of months if additional cash or equity is not sourced. The owner of the mine, Bowen Coking Coal Ltd, released a statement on Friday to the stock exchange. 'If immediate funding efforts are unsuccessful and/or coal market pricing dynamics do not improve, Bowen may seek to temporarily pause operations at part, or all, of the Burton Mine Complex,'' the ASX statement read. A number of the company's coal mines have been forced to close in recent years including the Bluff mine near Blackwater. Bowen Coking Coal executive chair Nick Jorss told The Courier Mail soaring state royalties and low prices are to blame for the crisis. 'Bowen is the tip of the iceberg of the pain being felt by central Queensland,'' he said. 'We're not the only ones on the edge. Quite a lot of mines in central Queensland are cash negative, meaning a lot of jobs are at risk.'
Yahoo
17-03-2025
- Business
- Yahoo
Bowen Coking Coal First Half 2025 Earnings: AU$0.001 loss per share (vs AU$0.028 loss in 1H 2024)
Revenue: AU$195.7m (down 17% from 1H 2024). Net loss: AU$8.68m (loss narrowed by 87% from 1H 2024). AU$0.001 loss per share (improved from AU$0.028 loss in 1H 2024). All figures shown in the chart above are for the trailing 12 month (TTM) period Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Metals and Mining industry in Australia. Performance of the Australian Metals and Mining industry. The company's shares are down 20% from a week ago. Before you take the next step you should know about the 4 warning signs for Bowen Coking Coal (2 are significant!) that we have uncovered. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
