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Wesfarmers down on coal revision

WESFARMERS shares traded at their lowest point in five months this week after it revealed coking coal production from its Curragh coal mine in Queensland was expected be less than previously advised to the market. The revisions in production forecasts from seven million tonnes to between 6.4 million tonnes and 6.8mt of export coking coal have reduced analysts’ profit estimates for Wesfarmers by $40 million this financial year.

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