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Golden Energy and Resources Ltd (GEAR), an international energy and resources company, has announced its full year results for the financial year ended 31 December 2020 (FY20).
Fuganto Widjaja, Executive Chairman of GEAR, said: “FY20 was a transformational year for GEAR, characterised by corporate actions which enabled the group to further diversify into metallurgical coal and gold. The strategic increase in stake of Stanmore Coal and acquisition of Ravenswood Gold evolved out of rational forecasts of long-term business prospects and their valuations in recent times when we had opportunities to invest. Last year was a turning point as we rode the peaks and troughs of the markets, realising investment gains and securing other strategic investments which put us in good stead for the long term.”
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Argus Media has reported that the Colombian government will propose a new carbon tax on coal consumption in the power and industrial sectors, according to coal federation Fenalcarbon s new President, Carlos Cante.
The finance ministry will propose the initiative in an upcoming tax reform bill that the government is expected to put before congress next month. The Colombian economy fell by 6.8% in 2020, according to national statistics bureau Dane, and the new tax is intended to help plug the budget deficit created by the pandemic.
The tax on coal consumers is expected to be Ps16 000/t of carbon dioxide equivalent (CO
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MC Mining Ltd has announced that, further to its announcement of 12 February 2021, Brenda Berlin has resigned as Acting CEO and Executive Director.
The search for a replacement CEO is at an advanced stage and Non-Executive Director Sam Randazzo, the Chairman of the Company’s Audit & Risk Committee, has been appointed as Interim CEO.
Read the article online at: https://www.worldcoal.com/coal/23022021/mc-mining-provides-ceo-update/
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ETF of the Week: WisdomTree China ex-State-Owned Enterprises Fund (CXSE)
ETF Trends CEO Tom Lydon discussed the
WisdomTree China ex-State-Owned Enterprises Fund (CXSE) on this week’s “ETF of the Week” podcast with Chuck Jaffe on the MoneyLife Show.
CXSE seeks to track the WisdomTree China ex-State-Owned Enterprises Index’s price and yield performance, which is a modified float-adjusted market cap-weighted index that consists of common stocks in China, excluding common stocks of “state-owned enterprises.” Chinese companies that are not state-owned enterprises are defined as government ownership of greater than 20%.
The fund is a tailored emerging market play that cuts out inefficient state-owned businesses. In regards to state-owned enterprises, government ownership can negatively impact the operational efficiency of a company. Government-owned and influenced companies typically run their businesses with a broader set of interests, appealing more to government wish
[BHP Billiton: a profit margin of 59 per cent WAIO in the first half of 2021 and record copper production at Escondida] the group s operating profit rose 17 per cent to US $9.8 billion. Profit before interest, tax, depreciation and amortisation for the current period (EBITDA) was $14.7 billion, with a profit margin of 59 per cent. The current operating performance was strong, with record production at both the Western Australian Iron Mine WAIO and the Escondida Escondida Copper Concentrator. The smooth commissioning of (Spence Growth Option), a production expansion project for Spence Copper Mine.
The content below was translated by Tencent automatically for reference.
Maximize cash flow: strong operating performance and robust free cash flow with a profit margin of 59%