$1bn in stranded coal runs out of time
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$1bn in stranded coal runs out of time
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Coronado confident coking coal nadir is past
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Gerhard Ziems says Coronado is less exposed to the China tensions than many Australian miners as it is geographically diversified.
Coronado Global Resources believes it has survived the worst of the coking coal price slump on signs that steel mills around the world are ramping back up and trade flows of coal have adjusted to accommodate China’s ban on Australian coal.
Coronado chief financial officer Gerhard Ziems said he expected China would persist with the ban, which has seen a lot of Australian coking coal redirected to smaller but growing markets such as India.