Yancoal Australia's attributable raw coal production reached 8.30 million tonnes in January-March, down 17% year on year and 8% from the previous quarter, showed the company's quarterly financial report.
Its attributable salable coal production stood at 5.90 million tonnes, down 27% year on year and falling 11% month on month.
During the first three months, the company's attributable sales were 5.90 million tonnes, down 24% year on year and falling 14% on the month.
Of that, thermal coal sales were 4.70 million tonnes, down 30% and 15% respectively compared with the preceding year and the previous month. Metallurgical coal sales were 1.20 million tonnes, up 9% from a year ago but down 14% from the previous month.
The La Niña weather pattern may have passed, but water storage volumes are still an issue at our NSW open-cut mines, with equipment availability and labor shortages also having an impact on production at some mines, the company said.
The company emphasizes pre-strip and overburden removal in the first half of this year to facilitate output increase later in the year and optimize 2023 saleable coal production.
The company's selling prices of semi-soft met coal and low-vol PCI coal moderately increased compared with the previous quarter, but thermal coal retreated notably from a record high of 2022 although still resilient.
During the given period, Yancoal Australia realized an average selling price of A$347/t, up 35% year on year but down 18% from the previous quarter. The selling price of met coal averaged A$383/t, up 10% year on year but falling 1% month on month, while thermal coal price was A$338/t, up 39% year on year but down 21% from the previous month.
The company target to produce 31-36 million tonnes of attributable coal production in 2023.
(Writing by Emma Yang Editing by Harry Huo)
For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.