Despite record commodity prices, Mongolian coal miner SouthGobi Resources (TSE:SGQ) announced a profit warning today.
In a news release published last week, SouthGobi wrote that it expected a net loss "...primarily attributable to the continued impact caused by the COVID-19 pandemic, including, but not limited to, restrictions on the number of trucks of coal crossing the border at the Ceke Port of Entry during the third quarter of 2021."
SouthGobi announces its financial results mid-month.
Coal prices soared in China by as much as 190% this year, but have since come down with government intervention, according to Reuters.
SouthGobi is listed on the Toronto Stock Exchange.
In its Q3 Newmont said COVID was impacting operations at some of its Australian mines.
By Michael McCraeFor Kitco News
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