ransparent_placeh Whitehaven Coal rises on strong second-quarter output
https://newsletter.mw.creamermedia.com
Coal|rail|Operations
Coal|rail|Operations
coal|rail|operations

Whitehaven Coal rises on strong second-quarter output

29th January 2025

By: Reuters

  

Font size: - +

Australia's Whitehaven Coal posted a 92.7% rise in its second-quarter production on Wednesday, aided by strong contributions from its New South Wales mines and Queensland mines, while remaining optimistic of future gains from metallurgical coal prices due to supply constraints.

Whitehaven anticipates that the long-term production depletion of hard coking coal from Australian producers, along with increased seaborne demand from India, will drive metallurgical coal prices higher. It expects its metallurgical coal portfolio to gain from these supply-constrained market dynamics.

Shares of the country's top independent coal miner rose as much as 4.6%, eyeing its best day in over two weeks, while the benchmark stock index was up 0.7% at 00:47 GMT.

The miner's New South Wales operations, which include the Maules Creek and Narrabri mines, recorded a 1.3% rise in its managed run-of-mine (ROM) coal production.

Whitehaven's Blackwater and Daunia mines, which it purchased from BHP Group for $4.1-billion, saw a combined ROM coal production of 4.6-million metric tons for the December quarter. However, this was 14% lower than the September quarter owing to some expected seasonal weather disruptions.

The miner's Daunia mine posted a strong sales volume of 1.5-million tons in the December quarter, up 34% sequentially due to good coal availability, strong demand and improved availability of rail paths on the Goonyella line. Whitehaven is continuing to work on the feasibility studies, including synergies with the Daunia coal mine, it said.

The company earned A$226 per ton of coal sold in the quarter, compared with an average realised price of A$216 per ton a year earlier.

Whitehaven said its managed ROM coal production for the December quarter was 9.7-million tons, compared with 5-million tons produced a year earlier, slightly ahead of the Visible Alpha consensus estimate of 9.5-million tons.

"We are on track to deliver firmly in the upper half of FY25 production and sales guidance, and at the low end of our full-year cost guidance range," said CEO Paul Flynn.

Edited by Reuters

Comments

Projects

Image of rail wagons at the Sasa mine, in Macedonia
Sasa mine, Macedonia
Updated 1 hour 11 minutes ago By: Sheila Barradas

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (24/01/2025)
24th January 2025 By: Martin Creamer

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







sq:1.395 1.475s - 127pq - 2rq
Subscribe Now