Universal increases output and sales
PERTH (miningweekly.com) – South Africa-focused coal miner Universal Coal has reported a 20% increase in coal sales for the quarter ended September, compared with the June quarter.
Coal sales during the quarter reached 1.25-million tonnes, up from just over one-million tonnes sold in the June quarter, as the New Clydesdale Colliery (NCC) reached nameplate capacity.
Run-of-mine (RoM) coal production during the quarter reached 1.69-milllion tonnes, which was up from the 1.38-million tonnes produced in the previous quarter.
Universal on Tuesday reported that its Kangala colliery achieved a consistent RoM production of more than one-million tonnes during the first quarter, with the project currently producing higher than budgeted volumes to facilitate the increased tonnages required by offtake partner Eskom.
The NCC mine produced 675 000 t RoM coal, which was up by 63% on the previous quarter.
The group’s earnings before interest, taxes, depreciation and amortisation (Ebitda) reached A$11.9-million during the quarter, with A$8.8-million attributable to Universal, in line with expectations.
Looking ahead, full year sales are expected to reach 4.5-million tonnes, with 2.8-million tonnes attributable to Universal, while Ebitda is forecast to be A$45-million, with A$28-million attributable to Universal.
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