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Whitehaven lowers coal production forecast for current fiscal

sxcoal.com International 2023-04-12 11:58:35

Australian coal producer Whitehaven Coal Ltd. announced on April 12 that it has lowered its production forecast for the current fiscal year, mainly due to labor shortages and operational constraints at the Maules Creek mine.


According to the announcement, Whitehaven has lowered its coal production forecast for the current fiscal year (July 2022-June 2023) to 18-19.2 million tonnes, down from the previous 19-20.4 million tonnes.


It is mainly because the company lowered its forecast in the second half as production from its largest operating mine, Maules Creek, fell short of expectations due to labor shortages and bad weather.


Production at Maules Creek was lowered to 9.3-9.8 million tonnes from 10.3-11 million tonnes, while production at Narrabri and Gunnedah O/C remained unchanged at 5.6-6 million tonnes and 3.1-3.4 million tonnes, respectively.


The company has also lowered its equity coal sales target to 12.3-12.9 million tonnes from 13.1-14.4 million tonnes. Unit production costs (excluding mining royalties) are expected to rise to $100-107/t from the original $95-102/t.


"Although the company's coal production is expected to be higher in April-June this year, production from the Maules Creek mine in the second half of the fiscal year is lower than expected and the company's full-year raw coal production is expected to be below the lower end of its target." The announcement shows.


Whitehaven is scheduled to report production for the third quarter (January-March) of the current fiscal year on April 21.


(Writing by Alex Guo  Editing by Harry Huo)
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