Fitch: Falling Coal Investment to Support Asian Prices

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The long-term outlook for the Asian thermal coal prices is improving. Amid rising regional demand and falling mining investment, which partly reflects tighter environmental policies at banks, says Fitch Ratings. Mining companies in the region are likely to face less margin pressure than under our previous price assumptions, which, along with lower capex, could support deleveraging. However, there are more constraints on their ability to generate new revenue streams, while refinancing risks may also rise for smaller miners.

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Leslie Tan

Corporate Communications Asia-Pacific

Fitch Ratings

Tel: +65-6796 7234

Fax: +65-6336 6802

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