Coal mining giant Whitehaven has been forced to slash its coal production forecasts at its biggest mine due to the impact of the ongoing drought and smoke from bushfires in New South Wales.
Whitehaven, the nation's largest dedicated coal miner, on Thursday slashed its coal forecasts at its Maules Creek mine in north-western NSW by up to 2 million tonnes, to a range of 10-11 million tonnes down from 12-12.5 million tonnes for the year. The company said the weather events have added to the company's struggle to find enough skilled workers in the region.
"Production at Maules Creek has also been affected by numerous unscheduled production stoppages during November and December from smoke, dust and haze events which are a function of ongoing severe drought conditions," the company said in a statement.
"With safety a key consideration, this has led to reduced truck speeds in lower visibility environments and in some cases required operations to be temporarily suspended."
Whitehaven shares tumbled more than 9 per cent to a three-year low of $2.73 following the trading update on Thursday.
Source: WA Today
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