PERTH (miningweekly.com) – Coal miner Whitehaven Coal has reported another quarter of record run-of-mine (RoM) production, defying market sentiment.
The ASX-listed miner on Thursday reported that RoM coal production for the three months to March had increased to 5.6-million tonnes, from 4.7-million tonnes reported in the previous corresponding period.
Coal production increased on the back of the Maules Creek mine, in New South Wales, ramping up to produce two-million tonnes RoM coal during the quarter.
During the next two to three years, the mine would be ramped up to a RoM output of 13-million tonnes a year, with the mine expected to reach a ramp-up stage of 10.5-million tonnes by January next year.
Meanwhile, coal sales for the quarter were also up by 48% on the previous corresponding period, to 5.5-million tonnes, which was also a record for Whitehaven.
The miner told shareholders that sales of semi-soft coking coal from the Maules Creek mine exceeded expectations with a number of trial cargoes to new steelmakers. The quality of the coal was also attracting strong interest from northern Asian buyers, the company said.
Looking ahead, Whitehaven stated that it was on track to reach its saleable coal production guidance of between 19.5-million tonnes and 20.1-million tonnes in 2016.