E&P Global (HKG:1142) forecasts a loss of not less than HK$460 million in the eleven months ended February, according to a Wednesday filing with the Hong Kong bourse.

The coal miner's foreseen loss is attributable to impairment losses on exploration and evaluation assets of HK$519 million at its Russian mines due to decreasing coal prices.

The miner also attributes the loss to volatile currency conversion rates between the Hong Kong dollar and the Russian ruble, the filing said.