Whitehaven coal sales jump 33%
January 27, 2010
Whitehaven Coal Limited (WHC) sold 1.183 million tonnes of coal for the December quarter, up 33% from the previous corresponding period. Meanwhile, run-of-mine coal production for the quarter surged 41% to 970,000 tonnes.
The company said its four main open-cut mines Tarrawonga, Werris Creek, Rocglen and Sunnyside performed well, under-pinning the strong result.
Whitehaven said it was continuing with expanding its open-cut mines and coal handling plant to achieve their potential capacity of around 5.5 million tonnes per year.
The miner said it had cash on hand at the end of December was $233 million, including $79 million received from a Korean consortium comprising Daewoo International Corporation and Korea Resources Corporation as part of the sale of a 7.5% interest in the Narrabri JV and contribution of capital expenditure.
Whitehaven currently has export sales tonnages and prices fixed for the majority of planned production through until June 30, 2010.
Meanwhile, the company also noted its breakthrough into the S&P ASX/200 for the first time following strong buying of the stock.
At the close Wednesday, Whitehaven Coal shares were trading at $4.78.
The company said its four main open-cut mines Tarrawonga, Werris Creek, Rocglen and Sunnyside performed well, under-pinning the strong result.
Whitehaven said it was continuing with expanding its open-cut mines and coal handling plant to achieve their potential capacity of around 5.5 million tonnes per year.
The miner said it had cash on hand at the end of December was $233 million, including $79 million received from a Korean consortium comprising Daewoo International Corporation and Korea Resources Corporation as part of the sale of a 7.5% interest in the Narrabri JV and contribution of capital expenditure.
Whitehaven currently has export sales tonnages and prices fixed for the majority of planned production through until June 30, 2010.
Meanwhile, the company also noted its breakthrough into the S&P ASX/200 for the first time following strong buying of the stock.
At the close Wednesday, Whitehaven Coal shares were trading at $4.78.
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