Solid Energy's 24% coal production rise best in 24mths
Solid Energy, the state-owned coal miner earmarked for partial sale, lifted production in the first three months of the year by 24%, the most in eight quarters.
BUSINESSDESK: Solid Energy, the state-owned coal miner earmarked for partial sale, lifted production by 24% to the best in eight quarters in the first three months of the year.
The increased output was driven by its largest operations at Stockton and Rotowaro, which lifted output by 39% and 15%, respectively.
Total coal production was 1.16 million metric tonnes in the first quarter, the most since the miner produced 1.24m tonnes in the June quarter of 2010.
Solid Energy’s biggest quarter ever was in April-June of 2008, when it produced 1.306m tonnes.
Huntly East Mine was the only facility not to increase output in the latest quarter, which Solid Energy said was because of harder mining conditions.
Total coal sales in the quarter rose 29% to 1.12m tonnes, as export sales jumped 66% to 605,000 tonnes and local sales gained 2% to 516,000 tonnes.
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Solid Energy's 24% coal production rise best in 24mths
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