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New UserWhitehaven Coal lifts saleable coal production 35oc
15 Jul 2016
Whitehaven Coal has reported record coal production for the year, with its financial year figure topping 20 million tonnes for the first time.
The ASX-listed coal miner (WHC) said 20.5 million tonnes had been produced in fiscal 2016, up 30 per cent from the prior year, while saleable coal production also struck a new record, climbing 35 per cent to 19.7 million tonnes.
The saleable number came in towards the bottom half of guidance of 19.5 to 21 million tonnes.
For the June quarter, saleable coal production lifted 8 per cent, aided by a ramp-up at its controversial Maules Creek mine in New South Wales.
Maules Creek began shipping last year and operated at a 9 million tonnes per annum rate through the June quarter, but it remains short of its 13 million tonne capacity.
The group added it saw an average price of $US63.20 a tonne in the June quarter for metallurgical coal and expects this to rise to a range of $US67 to $US72 in the September quarter.
Whitehaven Coal shares have surged 48 per cent over the last month and gained another 1 per cent in early trade, striking $1.49 at 10.10am (AEST).
Source: The Australian