abc.net.au/news/whitehaven-coal-record-profit-global-energy-crisis-fuels-demand/101366760Constraints on the global coal supply caused by the war in Ukraine have underpinned a record financial result for Gunnedah Basin miner Whitehaven Coal .The company's achieved coal price more than tripled from the previous yearThe company has posted a full-year result for the 2021–22 financial year of $3.06 billion in earnings before tax, and a net profit after tax of $2 billion.
WHC's primary markets are in the Asian region, but chief executive Paul Flynn said the Ukrainian war had introduced new customers. The result has meant the company has paid off all of its net debt, and now has more than $1 billion in cash.The company has argued that forecasts from global energy consultants Wood Mackenzie, which show that global coal demand will remain "largely flat to 2030", confirm the strength of the market.
Source: News Formal (newsformal.com)
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