Whitehaven Coal Ltd

WHC: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$8.20	Bwb	Cdmfdsmd

Modestly Reducing Whitehaven's FVE by 3% on Lower Thermal Coal Prices; Shares Undervalued

Jon Mills , Esther Holloway

Oct 16, 2023

Business Strategy and Outlook

Whitehaven Coal offers exposure to global energy and steel demand via thermal and metallurgical coal production. Its mines are in New South Wales, Australia. Salable coal production expanded from 10 million metric tons in fiscal 2014 to about 14 million metric tons in fiscal 2022, largely due to the ramp-up of Maules Creek and the expansion of the Narrabri mine. Equity output is expected to grow to 19 million metric tons by fiscal 2028.

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