Wesfarmers isn't necessarily looking at offloading its coal mine, despite anticipating what could be a $600 million hit from its embattled resources division.
Wesfarmers chief executive Richard Goyder told analysts on Wednesday that he is not happy with the performance of the division, but insisted the Curragh mine in central Queensland is still a valuable asset despite weighing on the company's results.
"Resources is frustrating to the extent that we have been and continue to look at a whole bunch of things but it is not simple," Mr Goyder said.
"We are not going to do something that would lance it now but destroy shareholder value in the process."
Mr Goyder said Wesfarmers was looking at all options with regard to the coal business.
News that makes sense
Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.
He said return on equity from the Curragh mine was strong and it continues to be a valuable asset.
Wesfarmers, which also owns supermarket giant Coles, said last month it will take a $420 million to $600 million impairment against the Curragh mine.
Combined with impairments related to its Target stores, that looks set to all but wipe out its FY16 profit.
