https://www.miningweekly.com

Universal Coal expects significantly higher earnings

30th June 2015

By: Creamer Media Reporter

  

Font size: - +

JOHANNESBURG (miningweekly.com) – ASX-listed Universal Coal said on Tuesday it expected to report significantly higher half-year earnings, owing to improved operational performance and higher demand and sales volumes from its main customer.

The company, which owns thermal coal assets in the Witbank coalfield of South Africa, stated that its earnings before interest, taxes, depreciation and amortisation (Ebitda) for the June quarter would be at least 50% higher than that of the previous quarter.

“The company continues to go from strength to strength, as strong operational performance at Kangala delivers excellent cash flow, with group Ebitda for the half-year ended June 2015 expected to be in excess of A$13-million,” commented CEO Tony Weber.

He stated that Universal Coal, as a result, was well placed to deliver its next operation, the New Clydesdale colliery, in Mpumalanga, before the end of the year. “Once running at steady state, we expect group production to double to almost five-million tonnes a year on a run-of-mine basis.”

New Clydesdale will produce two-million tonnes a year for domestic markets over a ten-year period.

Universal Coal recently secured R525-million in funding to progress the New Clydesdale mine development programme.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
John Deere (Pty) Ltd
John Deere (Pty) Ltd

In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (12/04/2024)
12th April 2024 By: Martin Creamer
Magazine round up | 12 April 2024
Magazine round up | 12 April 2024
12th April 2024

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







sq:0.135 0.17s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: