https://www.engineeringnews.co.za

Universal Coal to boost output by 50% in 2018

Universal Coal to boost output by 50% in 2018

Photo by Duane Daws

26th September 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed miner Universal Coal expects its output to increase from 3-million tonnes in 2017 to to 4.5-million tonnes in 2018, as its Kangala and New Clydesdale mines, in South Africa, reach steady-state production.

Earnings before interest, taxes, depreciation and amortisation are also expected to increase by about 80% in 2018, to A$45-million, based on current international coal prices and foreign exchange forecasts.

“Universal has delivered on our promises to the market. FY2017 has seen the development of the company into a multi-mine producer with a sound base for expansion,” said CEO Tony Weber.

“Having achieved steady-state production and being operationally cashflow positive, the board has elected to reward our patient shareholders by means of a maiden dividend. Having multi-mine sustainable productivity and operational profitability, Universal is well placed to grow our business and to continue dividends going forward.

“It is with confidence we look forward to the 2018 financial year.”

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 
The Steel Tube Export Association of South Africa
Steel Tube Export Association of South Africa

The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.053 0.965s - 140pq - 2rq
Subscribe Now