US coal mine Greenbrier causes impairment for Coronado

24th June 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Coronado Global Resources has warned of a $60-million to $70-million impairment on its Greenbrier coal mine, in the US.

Coronado restarted the majority of its US operations at the start of June this year, after they were idled in April and May in the wake of the Covid-19 outbreak.

Coronado has said that the Greenbrier mine would remain idled for the remainder of the year, until a recovery was seen in metallurgical coal prices As a result of this idling and a review of the market conditions, customer demand, and the current metallurgical coal pricing, Coronado had foreshadowed a non-cash impairment charge in relation to the carrying value of the Greenbrier mine.

Meanwhile, the company on Wednesday also said that group production for the 2020 financial year was expected to reach between 16.5-million and 17-million tonnes, however, sales volumes for the year would be higher than production as customer demand would be met through existing inventory levels.

Edited by Creamer Media Reporter

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION