Petmin’s Q3 anthracite production down 22% y/y
JOHANNESBURG (miningweekly.com) – Metallurgical anthracite production at JSE-listed Petmin’s Somkhele mine, in KwaZulu-Natal, decreased by 22% year-on-year to 261 739 t in the quarter ended March 31.
Production had been affected by geological conditions in the Luhlanga openpit – one of the three openpits being mined.
However, Petmin on Friday reported that Tendele Coal Mining, which operates Somkhele, had mined through the dyke that affected the Luhlanga pit and that production volumes had improved to budgeted levels during April.
Sales volumes for the third quarter ended March 31, decreased 39% year-on-year to 175 843 t, mainly as a result of the timing of export shipments that moved into April and May.
“Demand for Somkhele anthracite products remains firm and we expect our annualised sales volumes to be maintained at around 1.2-million tonnes a year,” said Petmin.
Meanwhile, energy coal production fell 7% year-on-year to 92 461 t in the third quarter.
NAIC INVESTMENT
Petmin on Friday also reported that it had made a final $2-million investment in Canadian firm North Atlantic Iron Ore’s (NAIC’s) pig iron project, taking its overall investment in the project to $25-million in return for a 40% stake.
“The NAIC project economics remain robust and the bankable feasibility study is on
track for completion in June,” the company stated.
The project was expected to produce 810 000 t/y of merchant pig iron from iron-ore sands from NAIC’s deposit in Goose Bay, Newfoundland, or 915 000 t/y using fines bought from iron-ore producers.
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