Wescoal H1 earnings to rise
JOHANNESBURG (miningweekly.com) – JSE-listed coal junior Wescoal Mining on Friday said its earnings a share and headline earnings a share for the six months ended September 30 were likely to be more than 20% higher than that reported for the first half of the previous financial year.
The company had reported earnings a share of 6.8c and headline earnings a share of 6.9c for the six months ended September 2012.
Further, Wescoal said its coal production for the six months under review had increased by 39% year-on-year to 895 185 t.
The company’s management was confident that the current production volumes could be maintained over the next six months, with its Intibane colliery, in Witbank, having become fully operational.
The coal miner’s trading division had sold 217 831 t of coal during the period, a 13% decrease on the 250 127 t sold in the previous corresponding period.
Wescoal would release its interim results on November 4.
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