Universal reports 19% rise in production

23rd July 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia


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PERTH ( – Coal miner Universal Coal has reported a 19% increase in production during the three months to June, compared with the previous corresponding period, on the back of the integration of the North Block Complex, in South Africa.

Run-of-mine production for the quarter reached 2.4-million tonnes, with coal sales also up by 53%, to 1.9-million tonnes, compared with the previous corresponding period.

For the 2019 financial year, coal sales were up by 41%, to 6.7-million tonnes, while production was up by 15% in the full year, to 8.8-million tonnes.

“Despite the challenges in changeover of mining contractors and unbudgeted costs incurred on corporate transactions, the management team has executed on its plan to achieve guidance,” said Universal CEO Tony Weber.

“The North Block Complex has been fully integrated ahead of schedule and development of Ubuntu has commenced, which will shortly become our fourth producing asset.”

Ubuntu is some 20 km south of the Kangala mine, and holds a Joint Ore Reserves Committee-compliant resource of 75.8-million tonnes.

Meanwhile, Universal on Tuesday reported that earnings before interest, taxes, depreciation and amortization (Ebitda) had reached A$20-million in the quarter under review, subject to the final audit process, with the Ebitda guidance for the full year confirmed at A$93-million.

Edited by Creamer Media Reporter


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