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Thursday, April 16, 2020 - 12:14:58 PM
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Mining News Pro - Coal miner Whitehaven Coal on Thursday said that it would not be making a final investment decision on any of its growth projects, including the A$700-million Vickery extension project, during 2020.
According to Mining News Pro - The miner told shareholders that studies continued to be carried out at its three main developments, which also include the Narrabri underground mine Stage 3 extension and the A$1-billion Winchester South metallurgical coal project, but noted that volatile financial market conditions meant Whitehaven would remain cautious about allocating capital to these expansions.
Whitehaven spent some A$6.9-million in its expansion and growth projects in the March quarter, reflecting engineering studies related to the Narrabri Stage 3 environmental impact statement and prefeasibility design work for the Vickery Extension and Winchester South projects.
Whitehaven on Thursday told shareholders that quarterly run-of-mine production for the three months to March had increased 8% on the previous corresponding period, to 4.9-million tonnes, while saleable coal production in the same period was down 15%, to 4.5-million tonnes.
The Maules Creek operation produced 2.3-million tonnes RoM coal and 1.8-million tonnes of saleable coal during the quarter, while the Narrabri underground longwall mine produced 1.5-million tonnes of RoM coal and 1.4-million tonnes of saleable coal. The Gunnedah openpit mines contributed a further 1-million tonnes of RoM production and 761 000 t of saleable coal production.
“During the quarter we fully met our manning requirements at Maules Creek and are now investing in the skills development to achieve full utilization of equipment and productivity of our workforce,” said MD and CEO Paul Flynn.
“As the largest private sector employer in our part of New South Wales, we are well aware of our role in supporting local jobs and the economy against the backdrop of the Covid-19.
“While globally and at home we see economic activity rapidly contracting, it is pleasing that demand for coal from customers in our region remains solid,” Flynn said.
March quarter coal sales were also down by 22% on the previous corresponding period, to 4.5-million tonnes.
Whitehaven has maintained its production guidance for 2020, with between 20-million and 22-million tonnes of RoM coal expected.
Sustaining capital for the full year is expected to reach between A$55-million and A$63-million, with between A$80-million to A$90-million to be spent on the growth projects.
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