Australian miner South 32 reported its coal production fell 19% from a year ago and declined 17% quarter on quarter to 1.44 million tonnes during January-March 2023, the company said in its quarterly report.

Coal sales of the company stood at 1.48 million tonnes during the given period, up 1% year on year but down 18% from the previous quarter.

The company's metallurgical coal production fell 21% on the year and 16% from a quarter ago to 1.24 million tonnes in the March quarter. Sales stood at 1.20 million tonnes, down 12% and 20% from the year and the quarter-ago levels.

During the first nine quarters of the fiscal year ending on June 30, South 32 produced 4.77 million tonnes of coal, down 3% year on year, and sold 4.66 million tonnes during the period, down 1%.

Specifically, metallurgical coal production stood at 3.99 million tonnes, down 8% year on year, and sales were down 9% to 3.87 million tonnes.

Thermal coal productions came in at 774,000 tonnes, up 30% year on year, and sales were up 63% to 789,000 tonnes.

During the first nine quarters, Illawarra metallurgical salable coal production was down 159,000 tonnes or 3% year on year to 4.80 million tonnes, with output decreasing by 17% in the March quarter as challenging strata conditions were encountered at the Appin mine.

The company lowered its production guidance for metallurgical coal in the fiscal year by 7% to 6.50 million tonnes, including metallurgical coal production of 5.50 million tonnes and thermal coal production 1 million tonnes.

With the expected decline in production, the company revised the operating unit cost guidance to $127/t from original $119/t.

(Writing by Emma Yang  Editing by Harry Huo)
For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.

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