Stanmore posts record half-year
PERTH (miningweekly.com) – Coal miner Stanmore Coal has reported a record first half, with revenues increasing by 791% on the previous corresponding period, while gross profits from operations nearly doubled.
Stanmore on Tuesday reported that revenue for the first half of the 2019 financial year reached A$148.28-million, up 79.1% on the previous corresponding period, while the underlying earnings before interest, taxes, depreciation and amortisation (Ebitda) reached A$41.61-million.
Gross profit from operations reached A$46.13-million in the first six months of the year, compared with the A$21.6-million in the previous corresponding period.
Stanmore reported record opencut run-of-mine production from its Isaac Plains coal mine, in Queensland, producing 1.29-million tonnes during the half-year, up 81.8% on the previous corresponding period, while coal production reached 78 000 t, up 91% on the first half of 2018.
Coal sales for the half-year were up by 48.5%, to a record 882 000 t, with a further 176 000 t of product stockpiled at the end of the half-year, due to port congestion. Stanmore said that the stockpiles would enable strong sales and cash conversions in the second half of the year, as port queues returned to more normal levels.
For the full year, Stanmore was predicting coal production to remain at some 2.15-million tonnes for the full 2019, with underlying Ebitda expected to reach between A$140-million and A$155-million.
Meanwhile, a final investment decision on the Isaac Plains underground mine is also expected in the 2019 financial year.
The underground mine will produce over one-million tonnes of run-of-mine coal a year, and is one of a number of options aimed at providing additional coal to the coal handling and preparation plant.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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
