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Whitehaven Coal production drops on longwall move

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World Coal,

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

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