Whitehaven has released the Production Report for the June 2018 Quarter.
- Strong safety performance – Group TRIFR at the end of June was 6.91.
- June quarter ROM coal production of 5.9Mt, saleable coal production of 4.7Mt and coal sales of 4.8Mt including purchased coal.
- Full year ROM coal production of 22.9Mt in line with the previous year.
- Full year saleable coal production of 20.9Mt, in line with the previous year and within the guidance range.
- Full year coal sales, including purchased coal of 22.1Mt, up 7% on the previous year.
- Maules Creek produced 2.9Mt ROM coal for the quarter and a record 11.0Mt ROM coal, up 13% for the year.
- Record Maules Creek saleable coal production of 9.7Mt, up 8% for the year.
- All mining equipment required to operate Maules Creek at the approved rate of 13Mtpa is onsite and operating.
- Gunnedah open cuts delivered record saleable coal production of 5.4Mt, up 12% and coal sales of 5.3Mt, up 16% from the previous year.
- Completed purchase of 100% of Winchester South metallurgical project in Queensland.
- Completed acquisition of the 30% joint venture interest in Tarrawonga, increasing ownership to 100%.
Paul Flynn, Managing Director and CEO, Whitehaven Coal, said:
“With thermal coal pricing at seven year highs, and against the backdrop of continuing strong demand, Whitehaven remains on track for a record set of financials in FY18.”
“The period has seen a record production result for Maules Creek and continued strong performance of the Gunnedah open cuts, which has helped to achieve sales within the guidance range.”
The full report can be found here: June 2018 Quarter Report
The audio of the Investors Conference Call can be found below: