Australian Coal Miners See Stocks Rally on Mine Explosion

📆 05/07/2024 05:55 a. m.
📰 OilandEnergy

⏱ Reading Time:
21 sec. here
9 min. at publisher
📊 Quality Score:
News: 36%
Publisher: 68%

Australia Noticias

Coal,Coal Miners,Miner

Australian coal mining stocks are rallying after an explosion at an Anglo American coal mine forced the company to shut down operations temporarily.

Australian coal miners are seeing their stocks rally following an explosion at a coal mine operated by Anglo American that shut down operations temporarily. According to Morgan Stanley, the stocks have higher to go, too, Bloomberg reported, noting that the mine is one of the biggest metallurgical coal sites in Australia.

“We see a near-term opportunity in coking or met coal, especially after the recent share price pullback,” the analysts wrote. For Anglo American, however, the incident is a double negative because it hurt not only its production plans but also its more important plans of selling its metallurgical coal business. The sale was part of a business dismantling plan expected to transform the company.

Escribir Comentario

Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Why So Many Bitcoin Mining Companies Are Pivoting to AIBitcoin miners are increasingly swapping out their mining equipment to jump on the AI gold rush.
Fuente: TIME - 🏆 93. / 53 Leer más »

A cooler uranium market means dealmaking for minersFor Paladin Energy and Fission Uranium, teaming up looks like a sensible move
Fuente: ftenergy - 🏆 47. / 63 Leer más »