South32's thermal coal output falls 8% on year in fiscal 2016-17

Chemical News: South32's thermal coal output falls 8% on year in fiscal 2016-17

https://www.chemnet.com Jul 25,2017 Platts
Miner South32's production of thermal coal from its Australian and South African assets fell 8% year on year to 30.29 million mt in fiscal 2016-2017 fiscal (July-June), the company said Thursday.

In the April-June quarter, its thermal coal production was 7.72 million mt, down 4% year on year and 8% quarter on quarter.

Its production from Australian mines was 309,000 mt (down 25% year on year and 2% quarter on quarter) and from South African mines 7.41 million mt (down 3% year on year and 9% quarter on quarter).

For the entire financial year, South32's output from its Australian mines edged up 5% year on year to 1,38 million mt, while production from its South African assets dropped 9% to 28.91 million mt.

Production from the South African mines was 4% below South32's guidance of 30 million mt for fiscal 2016-17. It did not provide guidance for its Australian thermal coal production.

"Export sales in the June quarter were impacted by a severe storm that affected the Richards Bay Coal Terminal and deferred shipments into [fiscal 2017-2018]," South32 said of its South African operations.

"The impact of adverse weather and the associated delay in the development of new mining areas at the WMC will continue to weigh on performance in [fiscal 2017-2018]," it added.
Print | add to Favorites | Close