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Australia's Universal Coal Jan-Mar ROM coal production steady on quarter

Sydney — Australia-listed thermal coal miner Universal Coal said its run-of-mine coal production during the January-March period was steady quarter on quarter and it was confident it would reach its fiscal 2017-2018 (July-June) production guidance of 4.6 million mt.

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Its two thermal coal mines, Kangala and New Clydesdale, produced a total of 1.98 million mt of ROM coal during the January-March quarter, which is up from the 1.95 million mt it had produced during the October-December period, the company Tuesday said.

The Kangala mine produced 994,278 mt ROM, down marginally from 996,218 mt a quarter earlier, and NCC's ROM production of 984,134 mt was up by 3% from 951,187 mt. Universal Coal's results were released a day prior to the ANZAC day bank holiday in Australia said.

Universal's share of production from the two mines is 70.5% and 49%, respectively.

The miner said Kangala was currently producing at the planned production rate and was approximately 5% ahead of budgeted production for the year to date.

Its domestic sales rose by 2%, with sale tonnages of 610,000 mt in Q3 2018 compared to 567,000 mt in Q2. Export sales for the quarter totaled only one train volume of 83,000 mt, compared with 360,000 mt in the previous quarter, the company said.

Export sales from NCC increased by 17% during the January-March quarter, with 215,000 mt delivered to market.

"The current period benefited from a normalized train schedule, unlike the previous quarter," the company said.

Eskom sales from NCC increased by 7% to 356,000 mt, it said. "The previous quarter's sales had been affected by the early December close due to the Christmas period," it added.

--Nathan Richardson,

--Edited by Norazlina Juma'at,