China coal ban showing no signs of letting up, South32 boss says
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The head of diversified miner South32 canât see Chinaâs ban on Australian coal imports ending any time soon.
Weaker coal prices contributed to an 8 per cent dent in South32âs revenue, down from $3.21 billion to $2.94 billion from July to December 2020.
South32 mines coal in the Illawarra region of NSW.
This drop was driven largely by lower realised prices for its metallurgical coal, which took a $US145 million hit due, in part, to Chinaâs trade spat with Australia and an ensuing ban of Australian coal imports in October.
China coal ban showing no signs of letting up, South32 boss says
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China coal ban showing no signs of letting up, South32 boss says
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