- Write by:
-
Friday, December 11, 2020 - 12:43:23 PM
-
591 Visit
-
Print
Mining News Pro - TerraCom has delivered strong operational results at its Blair Athol mine in Queensland despite a challenging thermal coal market.
The company transitioned to owner/operator status at Blair Athol this July and since then, has reduced free on board (FOB) costs by 17 per cent.
TerraCom consistently achieved this reduction every month since the transition, placing it in its first quartile of seaborne export FOB operating costs per tonne.
It also puts TerraCom in a solid position to take advantage of the recently improved thermal coal prices and demand.
Since the beginning of the 2021 financial year, the Newcastle thermal coal index has improved by more than 45 per cent, increasing from $US52 ($69) on July 1 to $US76 on December 9.
“The thermal coal market has been challenging in recent times and the entire Blair Athol team has continued to deliver exceptional results,” TerraCom stated.
“As a result of the exceptional cost management, an increased demand for Blair Athol coal and the strengthening coal price, Blair Athol is set to deliver strong margins for the 2021 financial year.”
Despite ongoing interruptions to the thermal coal market due to the COVID-19 pandemic, TerraCom sold more than a million managed tonnes of coal from its Australian operations.
TerraCom chief executive Danny McCarthy said the company was likely to deliver coal sales consistent with the 2020 financial year.
“The coal sales achieved year to date continue to be positive regardless of the ongoing market challenges,” McCarthy said.
“Based on an annualised assessment, the company is well positioned to achieve annual coal sales of approximately 9.9 million tonnes, consistent with financial year 2020.”
Short Link:
https://www.miningnews.ir/En/News/609694
China’s state planner on Friday finalized a rule to set up a domestic coal production reserve system by 2027, aimed at ...
The world’s coal-fired power capacity grew 2% last year, its highest annual increase since 2016, driven by new builds in ...
Peabody Energy Corp. shares sunk to the lowest in seven months after the biggest US coal miner warned that first-quarter ...
Polish government is abandoning plans to separate coal-fired power plants into a special company and is considering ...
BMO Bank quietly dropped its policy restricting lending to the coal industry in late 2023, helping it avoid being ...
Researchers at the University of Edinburgh discovered that bacteria found in areas polluted by acid mine drainage had ...
BMO Bank quietly dropped its policy restricting lending to the coal industry in late 2023, helping it avoid being ...
Iron ore reversed direction after dropping to its lowest level in 10 months as optimism that the country’s economic ...
Glencore Plc may consider switching its primary listing from London to New York, analysts at Deutsche Bank AG predicted, ...
No comments have been posted yet ...