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A ‘Solid’ Quarter For Whitehaven

2024-11-12 14:23

Wedoany.com Report-Nov 12, Whitehaven chief executive officer Paul Flynn said he was pleased to report the company’s strong start to the 2024–25 financial year (FY25) off the back of a solid September quarter.

In Queensland, Whitehaven’s Blackwater and Daunia mines saw an 11 per cent increase in run of mine (ROM) production, now sitting at 5.3 million tonnes (Mt).

Sales from the Queensland operations were also on the up, increasing 13 per cent from the June quarter.

At the Narrabri mine in New South Wales, Whitehaven managed a ROM production of 4.4Mt, a decrease of 12 per cent from the June quarter.

However, reliability of longwall operations at Narrabri continued to improve. Whitehaven will continue to focus on overburden removal.

“I am pleased to report a solid start to FY25, with another strong quarter of production from our new Queensland operations, and our New South Wales operations delivering in line with plan,” Flynn said.

“Our costs are tracking towards the bottom end of our full year cost guidance.

“We expect to receive $US1.08 billion of proceeds from the 30 per cent sell down of Blackwater in [the third quarter of] FY25.”

Revenues for the September quarter reflected  approximately 64 per cent metallurgical and 36 per cent thermal coal sales.

Whitehaven’s net debt at September 30 was $1.2 billion, attributed to “disciplined capital management”.

 

 

Oceania Australia Coal

Queensland / thermal coal

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