Whitehaven Coal production drops on longwall move

Whitehaven Coal has announced a decrease in quarter-on-quarter growth as a result of a planned longwall move at the company’s Narrabri mine. Total coal sales for Q1 were 2.285 million t, 5% lower than the last year. Export sales comprised 395 000 t of metallurgical coal and 1.837 million to of thermal coal.

Coal pricing

During the quarter, the benchmark Newcastle thermal coal industry (GlobalCOAL NEWC Index) averaged US$ 78.05/t, a 7% drop from the previous quarter. Relative to this, Whitehave achieved an average price for all of its export thermal coal of US$ 75.2/t.

The company achieved an average price for its metallurgical products of US$ 100.8/t but expects this to drop to US$ 93/t for Q2 2014.

Adapted from press release by Jonathan Rowland

Read the article online at: https://www.worldcoal.com/coal/29042014/whitehaven_coal_production_drops_on_longwall_move_coal776/