New Hope pays for profit slide

Coal miner New Hope continues to feel the pain of subdued global markets, declaring first-half profit will be less than half what the market was expecting, according to The Australian.

In guidance that saw analysts at Credit Suisse deliver a ratings downgrade, Brisbane-based New Hope said it expected to report net profit of $21 million to $23m for the six months ended January 31.

Altura making inroads into iron ore, coal

Patterson Securities analyst Matthew Trivett says that on the basis of its Mount Webber iron ore project, Altura is easily outperforming its peers, according to the Sydney Morning Herald.

“The excitement in the stock is iron ore, but its coal assets have potential,” he said. “You have to say that not many junior resource companies are cashflow positive these days.”

The Indonesian Tabalong coal project is being held up due to permitting problems that don't look like being resolved any time soon.

The company also owns a third share in a private Indonesian coal company, Delta Coal, which is producing 1.5 million tonnes of coal. Altura also owns some tenements with iron ore potential in the Pilbara.

Queensland considers splitting sale of Gladstone Port

Port of Gladstone, the world’s fourth-largest coal terminal, may be sold in separate tranches if the state government opts to offload the sprawling terminal after next year’s state election, according to the Australian Financial Review.