https://www.miningweekly.com

Universal eyeing 3Mt coal output this year

UPPING OUTPUT Kangala, produced an estimated 2.4-million tons and NCC, produced 540 000 t of coal. Combined, the two mines delivered a 47% year-on-year production increase

UPPING OUTPUT Kangala, produced an estimated 2.4-million tons and NCC, produced 540 000 t of coal. Combined, the two mines delivered a 47% year-on-year production increase

Photo by Duane Daws

21st July 2017

By: Ilan Solomons

Creamer Media Staff Writer

     

Font size: - +

ASX-listed coal miner Universal Coal says its Kangala and New Clydesdale Colliery (NCC) mines, in Mpumalanga, delivered an estimated three-million tons of coal in the 2017 financial year, ended June 30.

Kangala, near Delmas, produced an estimated 2.4-million tons and NCC, near Kriel, produced 540 000 t of coal. Combined, the two mines delivered a 47% year-on-year production increase for Universal, which reported output of 2.04-million tons of coal in 2016.

CEO Tony Weber noted that the group’s operating cash flow for the 2017 financial year was A$29-million, which is a 180% improvement on 2016, when it recorded A$10.4-million in revenues. He attributed this to improved production results and lower cost stripping activities at Kangala.

Attributable operating cash flow generated is estimated at A$19.6-million, which is a 258% year-on-year improvement on the A$7.6-million in the previous financial year. Weber remarked that cash flow generating ability was being demonstrated through the strong production performance from Kangala and NCC starting to contribute “meaningfully” to the group.

“The quarterly activities report will be released to the market in due course and within stipulated timeframes,” he stated.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sweet-Orr
Sweet-Orr

Sweet-Orr, established in 1871, is a global leader in superior protective workwear, known for quality, innovation, and performance.

VISIT SHOWROOM 
ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.042 0.913s - 110pq - 2rq
Subscribe Now