Buffalo’s Q3 loss widens, RoM production down 20.4% y/y
JOHANNESBURG (miningweekly.com) – AltX- and TSX-V-listed Buffalo Coal’s run-of-mine (RoM) production fell by 20.4% year-on-year to 319 000 t in the third quarter ended September 30.
RoM production from the Magdalena underground mine decreased by 36.4% year-on-year to 178 000 t, as a result of difficult geological mining conditions and pit-room constraints.
Production at the Aviemore mine, however, increased by 16.5% year-on-year to 121 000 t.
In line with the lower RoM production, Buffalo’s saleable coal production decreased by 16.1% to 249 000 t in the third quarter.
Bituminous coal and anthracite product sales decreased by 21.1% to 195 000 t in the quarter under review.
Buffalo’s headline loss for the quarter widened to R29.36-million, compared with a headline loss of R25.54-million in the third quarter of 2016.
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