Whitehaven Coal Limited (ASX:WHC) released its June 18 Quarterly Report

skynews

The Group released its June Quarter Production Report and announced that its full year ROM coal production of 22.9Mt was in line with the previous year and its full year saleable coal production of 20.9Mt was in line with the previous year and within the guidance range.  The Company achieved an average price of US$131/t for its metallurgical coal sales in the June quarter. Further, it was reported that ROM coal production at Narrabri in the June quarter and second half of FY2018 was impacted by a series of longwall face mechanical issues and by localised weighting events. At Vickery Project, the Company achieved a significant milestone during the quarter when all rail corridor access agreements were concluded with the relevant parties in support of the development of the high-quality Vickery Project.

It was noted that Maules Creek achieved a quarterly average price 9.0 per cent higher than the gC Newc index price for its sales of thermal coal during the quarter. The Company completed the full acquisition of the Winchester South project during the June quarter. The global demand for thermal coal in the first half of 2018 continued to grow and followed by an increase of 2 per cent year on year (YoY) growth in 2017 and the Group also completed the acquisition of the 30 per cent joint venture interest in Tarrawonga, increasing ownership to 100 per cent. ASX:WHC price declined by 2.3 per cent and was trading at $5.47 as on 16 July 2018, 03:00 PM AEST.

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