Whitehaven Coal

Interest in coal assets has waned with prices; thermal coal prices are down 30% in 12 months and more than 40% from their peak. The price of metallurgical coal (used to make steel) has similarly fallen. Whitehaven Coal has used the slump to buy; it paid $2.25bn for Aston Resources and is currently bidding for coal junior Coalworks. The market hasn’t approved; Whitehaven’s share price has tanked 35% since Whitehaven Coal: Too hot to handle? on 16 Aug 10 (Avoid - $6.04). The fall reflects concern that, at a time of falling coal prices, Whitehaven is boosting output. It will...

Interest in coal assets has waned with prices; thermal coal prices are down 30% in 12 months and more than 40% from their peak. The price of metallurgical coal (used to make steel) has similarly fallen. Whitehaven Coal has used the slump to buy; it paid $2.25bn for Aston Resources and is currently bidding for coal junior Coalworks.

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