Photo by: Bloomberg
JOHANNESBURG (miningweekly.com) – Coal mining and supply company Buffalo Coal reported on Thursday that total run-of mine (RoM) production from its South African operations improved from 447 000 t in the three months ended May 31, 2013, to 491 000 t in the four months ended June 30.
This came as RoM production from the Magdalena underground and opencast mines, in KwaZulu-Natal, increased from 309 000 t to 334 000 t over the period.
Similarly, RoM production from the nearby Aviemore mine increased from 138 000 t in the second quarter of the prior year to 157 000 t.
“Aviemore continues to perform in line with historic and budgeted performance levels; however, ventilation problems were experienced towards the end of the four-month period, which slowed production,” the company noted.
Saleable coal production for the period was 307 000 t, while total sales of bituminous coal and anthracite products for the period improved by 20.9% to 315 000 t.
Meanwhile, coal revenues during the four months ended June 30 increased 19% to R220.2-million compared with R185.1-million for the three months ended May 31, 2013, while cost of sales was R242.9-million.
Buffalo reported a net loss before income taxes for the four months ended June 30 of R50.6-million compared with a net loss of R15.1-million for the three months ended May 31, 2013.