CAPITAL MARKETS

Down in the dumps

DESCRIBING its half yearly result as “disappointing”, Austral Coal has posted a $9.5 million loss, lamenting mechanical, electrical and software faults for the slow extraction rates at Tahmoor North.

Angie Tomlinson

The $9.48 loss was $5 million more than expected and was attributed to Tahmoor North longwall’s slow ramp-up from commissioning on May 31. “The new Tahmoor North longwall did not perform to the manufacturer’s...

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