Forbes’ Q2 output rises as Magdalena mine delivers record output
JOHANNESBURG (miningweekly.com) – Dual-listed Forbes & Manhattan Coal’s Magdalena bituminous mine achieved a record 322 000 t of run-of-mine (RoM) production in the second quarter of the company’s 2014 financial year.
The mine’s output for the three months ended August 31 was 13.8% higher than the 283 000 t produced in the second quarter of the previous financial year and up 4% on the 309 000 t produced in the first quarter of the current financial year.
RoM production at the company’s Aviemore mine was, however, down 5.3% year-on-year to 124 000 t in the second quarter, compared with 131 000 t produced in the prior comparative period. This was also a 10% decrease on the 138 000 t produced in the first quarter.
Forbes’ total RoM production for the second quarter amounted to 446 000 t, up nearly 8% on the 414 000 t produced in the prior comparative period and in line with the 447 000 t produced in the first quarter.
“The company has experienced a steady and consistent pace of growth in the last three months and we are tracking well against our annual production targets. A continued incremental increase in production each month is the focus for the remainder of the year. We will continue to maintain current production momentum,” commented Forbes president and CEO Stephan Theron.
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