https://www.miningweekly.com

Universal Coal to boost output by 50% in 2018

26th September 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed miner Universal Coal expects its output to increase from 3-million tonnes in 2017 to to 4.5-million tonnes in 2018, as its Kangala and New Clydesdale mines, in South Africa, reach steady-state production.

Earnings before interest, taxes, depreciation and amortisation are also expected to increase by about 80% in 2018, to A$45-million, based on current international coal prices and foreign exchange forecasts.

“Universal has delivered on our promises to the market. FY2017 has seen the development of the company into a multi-mine producer with a sound base for expansion,” said CEO Tony Weber.

“Having achieved steady-state production and being operationally cashflow positive, the board has elected to reward our patient shareholders by means of a maiden dividend. Having multi-mine sustainable productivity and operational profitability, Universal is well placed to grow our business and to continue dividends going forward.

“It is with confidence we look forward to the 2018 financial year.”

Edited by Creamer Media Reporter

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

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