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Wesfarmers' resources business suffers first loss in 16 years

2016-02-24 09:14:57| Agriculture - Topix.net

Wesfarmers chief executive Richard Goyder says it is unlikely the Perth-based conglomerate will offload its struggling resources division, which posted its first loss in 16 years on Wednesday. The resources division, which includes Curragh Coal in Queensland and the 40 per cent-owned Bengalla coal mine in NSW, was one of only two divisions to record a drop earnings in the six months to December 31, driven by currency hedge losses and lower export coal prices.

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