Whitehaven boosts coal production 35%
JOHANNESBURG (miningweekly.com) – Gunnedah basin coal miner Whitehaven Coal produced 19.7-million tonnes of coal in the 2016 financial year ended June 30, which is a 35% increase on the previous corresponding period.
Whitehaven, which owns four opencut mines and one large underground mine in New South Wales, delivered in its guidance range of 19.5-million tonnes to 20.1-million tonnes.
The ASX-listed miner sold 20.1-million tonnes of coal in the financial year, which was railed from the Gunnedah basin to the Port of Newcastle before being shipped to customers mostly in Japan, Korea, Taiwan and India.
The coal sales increased by 44% year-on-year and comprised 16% metallurgical coal and 84% thermal coal. Whitehaven reported on Friday that the proportion of metallurgical coal sales was expected to increase progressively over the next four years as the high-quality Maules Creek semi-soft coking coal continued to gain market acceptance and term-based contracts were concluded.
For the June quarter, Whitehaven produced 5.13-million tonnes of coal, which was an 8% improvement on the comparable period in 2015 and sold 5.19-million tonnes, which was a 22% year-on-year improvement.
The miner achieved an average price of $63.20/t in the June quarter from sales of all metallurgical coal products. Whitehaven stated that pricing in the September quarter was expected to be higher in the $67/t-to-$72/t range, following an increase in benchmark prices.
An average price of $51.94/t was achieved for thermal coal sales in the quarter.
The group has a long-stated goal of increasing its production to 23-million tonnes a year by 2018.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation