Stanmore Coal’s hundredfold profit jump
Colin PackhamEnergy and resources reporter
Stanmore Coal reported a hundredfold jump in annual profits on Monday after the global energy crunch exacerbated by Russia’s invasion of Ukraine sent coal prices soaring to record levels.
Stanmore said net profits for the year ended December 31 totalled $US727 million ($1.08 billion), up from just $US7 million reported by the mining company a year earlier.
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