Upward pressure on costs is wiping out previously good operations. DCN announced suspension of Mt Morgans today, stating in their presentation:
Cost increases since FY2021 include:
• 68% increase in contractor load and haul rates (excluding fuel) with a further 17% increase quoted for FY2023
• 42% increase in diesel price
• 40% increase in gas price with a further 9% increase from December
If they survive, CLZ won't be doing anything meaningful for quite a while.
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