Stanmore beats 2024 production guidance
Australian metallurgical coal miner Stanmore has closed out 2024 on a high note, surpassing its production guidance despite the closure of the Millennium mine earlier this year.
The strong performance was underpinned by record output from its South Walker Creek and Poitrel operations, which helped offset lower volumes from the now-shuttered Millennium mine.
Stanmore delivered total saleable production of 13.8-million tonnes for the year, with 3.3-million tonnes produced in the December quarter alone.
The company overcame several challenges in the fourth quarter, including persistent wet weather in December and a planned 14-day shutdown of the South Walker Creek coal handling and preparation plant (CHPP) to tie in a new expansion module.
Owing to the CHPP shutdown, South Walker Creek’s saleable production reduced modestly compared with the prior quarter to 1.4-million tonnes. Fourth-quarter sales were consistent with saleable production and ended the year 300 000 t up on 2023 sales.
Production rates at South Walker Creek will ramp up over the first quarter of 2025, with consistent nameplate rates of 1 200 t/h forecast from March.
Together with the previously expanded mining fleet, the upgraded CHPP will support an increase in overall mine capacity to 9.4-million tonnes a year of run-of-mine (RoM).
Poitrel followed up an all-time high RoM production in September, with another strong performance of 1.6-million tonnes mined and saleable coal output of 1.2-million tonnes. For the full-year, Poitrel delivered record coal sales of 4.9-million tonnes.
Isaac Plains, however, had a challenging quarter with heavy weather conditions impacting on December production. The mine delivered saleable coal of 700 000 t in the December quarter, and 2.8-million tonnes for the year.
Underground mining at Millennium concluded on June 30, marking the end of operations at the site.
Stanmore concluded the year with a closing cash position of $289-million.
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