Stanmore posts record quarter
PERTH (miningweekly.com) – Coal miner Stanmore Coal has reported record saleable production for the three months to June, with a 130% increase in saleable coal production, compared with the previous corresponding period.
Saleable coal production for the June quarter reached 721 000 t, up from the 314 000 t reported in the June quarter of 2018, while run-of-mine coal production in the same period was up 59%, from 547 000 t to 872 000 t.
In the full year to June, run-of-mine production was up by 78% compared with the previous financial year to 2.9-million tonnes, while saleable coal production was up 112% in the full year to 2.39-million tonnes, above the guidance of 2.3-million tonnes.
Coal sales for the quarter under review also increased by 115%, from 320 000 t to 688 000 t. However, coal sales for the June quarter were slightly behind the record 740 000 t achieved in the March quarter, with product stocks growing by 119% to 175 000 t as a result of the June shipping queues.
These stocks are expected to decrease in the first and second quarters of the 2020 financial year, Stanmore said on Thursday.
Coal sales in the full year were up 76% on the previous financial year, from 1.3-milion to 2.3-million tonnes.
Stanmore on Thursday reported a full-year underlying earnings before interest, taxes, depreciation and amortization of between A$154-million and A$156-million, subject to audit, which was at the top end of the guidance of between A$140-million and A$155-million.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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