A Brisbane resources mogul celebrated huge financial gains from soaring fossil fuel prices.
Jellinbah Group recently reported a $1.92 billion profit and $1.7B in dividends for the 2022 financial year. Profit jumped 698.6 per cent compared to the previous fiscal period’s $240.4 million result according to News Limited.
This growth was largely due to coal spot prices exceeding US$600 (A$938.47) a tonne soon after the Russia-Ukraine border conflict escalated in February 2022.
Company owner and major shareholder Sam Chong is widely expected to be a big winner from an estimated $1.2B in dividend payments processed on October 31.
The proponent also declared it had $1.77B of cash deposited in its bank account at the end of June according to the media outlet.
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