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Mar.29.2024 1USD=7.095RMB
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South32 Announces 2019 Q4 Coal Production Report

https://en.steelhome.com [SteelHome] 2020-02-12 16:50:52

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South Africa Energy Coal saleable production decreased by 3% (or 386kt) to 11.8Mt in the December 2019 half year as the operation demobilised contractors in response to market conditions, more than offsetting a 15% increase in export sales volumes following improved dragline availability at Klipspruit.

Notwithstanding the improvement in dragline performance, supporting a 46% increase in export sales during the December 2019 quarter, its ramp-up to full utilisation has been slower than anticipated as a result of wet weather. Combined with our near-term outlook for domestic demand and the demobilisation of contractors operating in unprofitable pits, we now expect FY20 production to be at the bottom end of our guidance range (26.0Mt). Operating unit costs are expected to be approximately 10% above the top end of our guidance range of US$40/t in the December 2019 half year, ahead of benefitting from an expected increase in volumes during the June 2020 half year and the realisation of cost saving initiatives which include contractor demobilisation.

Illawarra Metallurgical Coal saleable production decreased by 4% (or 145kt) to 3.7Mt in the December 2019 half year following the completion of a longwall move at the Appin mine during the December 2019 quarter. FY20 production guidance remains unchanged at 7.0Mt with both the Dendrobium and Appin longwalls continuing to perform strongly and a further longwall move scheduled for the March 2020 quarter. Achieving improved development rates at Appin to support the improved longwall performance and a sustained return to a three longwall configuration at the operation from the June 2020 quarter remains a focus.

 T1 Production Summary

South32 share

1H19

1H20

HoH

2Q19

1Q20

2Q20

QoQ

Energy coal production (kt)

12,929

12,621

-2%

6,369

6,723

5,898

-12%

Metallurgical coal production (kt)

3,082

2,859

-7%

1,567

1,651

1,208

-27%

T2 Production Guidance

South32 share

FY19

1H20

FY20e

South Africa Energy Coal

 

 

 

Energy coal production (kt)

24,979

11,785

26,000

Domestic coal production (kt)

14,978

6,763

15,300

Export coal production (kt)

10,001

5,022

10,700

Illawarra Metallurgical Coal

 

 

 

Total coal production (kt)

6,647

3,695

7,000

Metallurgical coal production (kt)

5,350

2,859

5,800

Energy coal production (kt)

1,297

836

1,200

T3 South Africa Energy Coal (100%)

 South32 share

1H19

1H20

HoH

 2Q19

1Q20

 2Q20

2Q20

vs 2Q19

2Q20

vs 1Q20

Energy coal production (kt)

12,171

11,785

-3%

6,001

6,292

5,493

-8%

-13%

Domestic sales (kt)

7,749

6,688

-14%

3,646

3,726

2,962

-19%

-21%

Export sales (kt)

4,206

4,854

15%

2,283

1,977

2,877

26%

46%

T4 Illawarra Metallurgical Coal (100%)

 South32 share

1H19

1H20

HoH

 2Q19

1Q20

 2Q20

2Q20

vs 2Q19

2Q20

vs 1Q20

Total coal production (kt)

3,840

3,695

-4%

1,935

2,082

1,613

-17%

-23%

Total coal sales (kt)

3,259

3,619

11%

1,755

1,848

1,771

1%

-4%

Metallurgical coal production (kt)

3,082

2,859

-7%

1,567

1,651

1,208

-23%

-27%

Metallurgical coal sales (kt)

2,527

2,800

11%

1,349

1,482

1,318

-2%

-11%

Energy coal production (kt)

758

836

10%

368

431

405

10%

-6%

Energy coal sales (kt)

732

819

12%

406

366

453

12%

24%

Related Link: Official Document


(To contact the reporter on this story: myron.liu@steelhome.cn or 86-21-50582062)
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