UNDERGROUND

Stronger volumes unable to stop slide in IMC's earnings

ILLAWARRA Metallurgical Coal's annual earnings have sunk 85% to US$52 million as lower average realised prices, a drawdown of inventory, and lower other income were only partially offset by stronger sales volumes.

 Illawarra Metallurgical Coal's Appin longwall mine in NSW.

Illawarra Metallurgical Coal's Appin longwall mine in NSW.

Revenues for the 2019-20 financial year were down 19% to $924 million even though saleable production increased 5% to 7 million tonnes as the Dendrobium and Appin longwalls continued to perform strongly,...

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