CAPITAL MARKETS

Whitehaven deep in the red with massive impairment

WHITEHAVEN Coal has been forced into a brutal A$650 million asset write down, driving it deep into the red with net loss of $543 million.

Whitehaven deep in the red with massive impairment

The bulk of the write-down, $549 million, was due to a reduction in reserves at its Narrabri operations in New South Wales due to a new mine plan that optimises coal quality, plus $90 million due to uncertainties...

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