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Australia's Whitehaven Coal second-quarter output rises by 92.7%, beats estimate
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Australia's Whitehaven Coal second-quarter output rises by 92.7%, beats estimate
Jan 28, 2025 2:34 PM

(Reuters) -Australia's Whitehaven Coal ( WHITF ) posted a 92.7% rise in its second-quarter production on Wednesday, helped by strong contributions from New South Wales mines and its recently acquired Queensland mines.

The miner's New South Wales operations, which include the Maules Creek and Narrabri mines, recorded a 1.3% rise in its managed run-of-mine (ROM) coal production.

Whitehaven's Blackwater and Daunia mines, which it purchased from BHP Group for $4.1 billion, saw a combined ROM coal production of 4.6 million metric tons for the three months ended December. However, this was 14% lower than the September quarter owing to some expected seasonal weather disruptions.

The miner's Daunia mine posted a strong sales volume of 1.5 million tons in the December quarter, up 34% sequentially due to good coal availability, strong demand and improved availability of rail paths on the Goonyella line.

The company earned A$226 per ton of coal sold in the quarter, compared with an average realised price of A$216 per ton a year earlier.

The country's top independent coal miner said its managed ROM coal production for the three months ended December was 9.7 million tons, compared with 5 million tons produced a year earlier, slightly ahead of the Visible Alpha consensus estimate of 9.5 million tons.

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