Coal & Allied Dec quarter output up 7.2%
Coal & Allied Industries Limited (CNA) said total coal production for the December quarter was 6.96 million tonnes, up 7.2% on the previous corresponding period (“pcp”). The company said its share of total saleable production was 5.28 million tonnes, or 6% higher than the previous quarter and 11% higher than the pcp.
CNA’s total coal sales were 2.8% higher than the September 2009 quarter.
The company said its share of coal production for the quarter increased 11.3% to 5.28 million tonnes versus the pcp, while share of sales was up 11.9% in the same period.
On yearly comparisons, production was up 1.9% to 18.96 million tonnes on CY08, while sales increased 0.6%.
Coal & Allied said it has entered into long term take or pay contracts for port allocation with Port Waratah Coal Services which take effect from 1 January 2010.
The company said similar long term take or pay contracts to secure equivalent rail track access and rail freight are still being negotiated.
As at 1408 AEDT, Coal & Allied shares were up $1.06 to $87.56.
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