Wescoal’s output set to increase in the 2022 financial year
JSE-listed Wescoal has advised shareholders that it has started its 2022 financial year off well, delivering 2.24-million run-of-mine (RoM) tonnes in the quarter ended June 30.
This compares with 2.2-million RoM tonnes produced in the quarter ended June 30, 2020, and 1.82-million RoM tonnes produced in the quarter ended March 31 this year.
The company says in a trading update that mining production was boosted by the Moabsvelden project, despite lower numbers from the Khanyisa and Vanggatfontein projects.
Mining sales in the quarter under review totalled two-million tonnes, compared with the 1.5-million tonnes sold in the comparable quarter last year, and the 1.6-million tonnes sold in the March quarter.
Wescoal explains that the Moabsvelden project’s contribution to the group’s overall output and sales performance continues to increase as the boxcut construction phase edges closer to completion. The project is expected to further improve the company’s performance for the current financial year.
This while the Arnot mine’s restart is imminent, with first coal expected before the end of this calendar year.
Wescoal continues to implement cost-cutting initiatives and is on track to achieve its set targets.
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