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Bathurst's earnings to be buoyed by higher coal prices

HIGHER coal prices have prompted Bathurst Resources to lift its earnings forecast for FY2022 by almost 50% to NZ$95 (A$92) million.

Lou Caruana
Bathurst said despite the disruptions from the Chinese import ban on Australian coal, and the COVID-19 pandemic, fundamental market supply had remained steady, and demand for coal for steelmaking had increased.

Bathurst said despite the disruptions from the Chinese import ban on Australian coal, and the COVID-19 pandemic, fundamental market supply had remained steady, and demand for coal for steelmaking had increased.

This compares with the $35.8 million of earnings before interest, tax, depreciation and amortisation reported by the New Zealand metallurgical coal producer in FY2021. Bathurst said the US dollar hard...

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