The West Australian reported that concerns about the solvency of embattled Collie coal miner Griffin have deepened after full-year results showed its losses continued to mount. Griffin’s Indian owners have laid bare how desperate the company’s financial position had become. According to results posted with the Indian stock exchange by Lanco Infratech, Griffin’s parent company, the Collie miner’s losses ballooned to A$76 million in the 12 months to March 31 from A$19.3 million loss in 2012-2013. Driving the result was a 29% drop in revenue, including a 65% fall in the final quarter, as Griffin struggled with bad weather, failing equipment and deteriorating coal quality.
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Top 10 Coal Producing States & Regions
week ending (3/30/2019)
(in Thousand Short Tons)
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