Australia's Coronado Global rises on mining approval for Queensland project

Coronado Global Resources

12/12/2024 03:28

** Shares of Coronado Global Resources  CRN.AX  rise as much
as 2.9% to A$0.89, their highest levels since Dec 4
    ** The metallurgical coal producer's unit Coronado Curragh
gets regulatory approvals to start underground mining operations
at its Mammoth underground mine in Curragh Mining Complex
    ** Curragh currently comprises two open cut mines at
Blackwater in Queensland's Bowen Basin
    ** Says cutting of first coal is scheduled for Dec 19
    ** Says Mammoth mine will mark co's first foray into
underground mining in Australia
    ** Stock has fallen 50.9% this year, as of last close

    

 (Reporting by Namrata Verma in Bengaluru)
 ((namrata.verma@thomsonreuters.com))