Coal miner Stanmore Coal has reported stunning results following its coal acquisitions in 2022 mining resources energy Australia
PERTH – Coal miner Stanmore has reported an 852% increase in revenue for the full year ended December, and a 10 597% increase in net profits, following its $1.35-billion deal with diversified miner BHP and Mitsui & Co to acquire an initial 80% interest in the SMC asset last year.
Revenue in the full year increased from the $284-million reported in 2021 to $2.6-billion, while earnings before interest, taxes, depreciation and amortisation increased from $34-million to $1.12-billion.“This has truly been an exciting year for Stanmore. We completed the acquisition of the SMC assets, including the South Walker Creek and Poitrel mines, and welcomed new employees and contractors into the Stanmore family.
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