'Onerous contracts' cost Stanmore $9.2M

STANMORE Coal paid $9.2 million in FY 2020 in “onerous contracts” that it inherited when it bought the Isaac Plains mine in 2015.

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'Onerous contracts' cost Stanmore $9.2M 'Onerous contracts' cost Stanmore $9.2M 'Onerous contracts' cost Stanmore $9.2M 'Onerous contracts' cost Stanmore $9.2M 'Onerous contracts' cost Stanmore $9.2M

A portion of the contracts were estimated to be underutilised and the fixed charges.

The company acquired various long-term contracts necessary for mining activities at Isaac Plains including rail haulage, port allocations, water supply, electricity supply and accommodation.