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Jun.20.2021 1USD=6.4361RMB
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South32 Announces 2020 Q4 Coal Production Report

http://en.steelhome.cn [SteelHome] 2021-03-31 10:45:40

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South Africa Energy Coal saleable production decreased by 5% (or 0.5Mt) to 11.2Mt in the December 2020 half year with domestic sales declining in the December 2020 quarter following reduced demand from Eskom. Export sales were also lower following the suspension of activity from loss-making pits in response to market conditions. Operating unit costs are expected to be approximately 10%abovethe  top  end  of  our  guidance  range  of  US$39/tin  the  December  2020  half  year following  a  strengthening  of  the South African rand. Subject to the satisfaction of material conditions, we are currently targeting to complete the divestment of South Africa Energy Coal by 31March 2021withsaleable production of 4.6to 5.2Mtexpected for the March 2021 quarter.

Illawarra  Metallurgical  Coal  saleable  production increased by 11%  (or 401kt)  to 4.1Mt  in  the  December  2020  half  year with  the operations successful return to a three longwall configuration in April 2020 supporting higher volumes of metallurgical coal. Energy  coal production volumes  were  flat in  the  December  2020  half  year, despite  the  completion  of a  longwall  move  at  the Dendrobium mine in the December 2020 quarter, as we monetised low-margin coal wash material for sale to industrial customers. This material attracts grade and product-type discounts to the API5 (5,500Kcal) index16 for our energy coal sales. While the coal wash material is expected to generate a small margin, the incremental volumes are expected to result in our Operating unit costs for the December 2020 half year being approximately 5% lower thanFY21 guidance (US$84/t).

T1 Production Summary

South32 share

1H20

1H21

HoH

2Q20

1Q21

2Q21

QoQ

Energy coal production (kt)

12,621

12,077

(4%)

5,898

6,771

5,306

(22%)

Metallurgical coal production (kt)

2,859

3,626

14%

1,208

1,863

1,399

(25%)

T2 Production Guidance

South32 share

FY19

1H20

FY20e

South Africa Energy Coal

Energy coal production (kt)

22,672

11,243

15,800-16,400

Domestic coal production (kt)

12,552

6,561

9,300-9.700

Export coal production (kt)

10,120

4,682

6,500-6.700

Illawarra Metallurgical Coal

Total coal production (kt)

7,006

4,096

7,700

Metallurgical coal production (kt)

5,549

3,262

6,400

Energy coal production (kt)

1,457

834

1,300

T3 South Africa Energy Coal (100%)

South32 share

1H20

1H21

HoH

2Q20

1Q21

2Q21

2Q21

vs 2Q20

2Q21

vs 1Q21

Energy coal production (kt)

11,785

11,243

(5%)

5,493

6,263

4,980

(9%)

(20%)

Domestic sales (kt)

6,688

6,527

(2%)

2,962

3,607

2,920

(1%)

(19%)

Export sales (kt)

4,854

4,697

(3%)

2,877

2,487

2,210

(23%)

(11%)

T4 Illawarra Metallurgical Coal (100%)

South32 share

1H20

1H21

HoH

 2Q20

1Q21

 2Q21

2Q21

vs 2Q20

2Q21

vs 1Q21

Total coal production (kt)

3,695

4,069

11%

1,613

2,371

1,725

7%

(27%)

Total coal sales (kt)

3,619

4,027

11%

1,771

1,940

2,087

18%

8%

Metallurgical coal production (kt)

2,859

3,262

14%

1,208

1,863

1,399

16%

(25%)

Metallurgical coal sales (kt)

2,800

3,165

13%

1,318

1,468

1,697

29%

16%

Energy coal production (kt)

836

834

(0%)

405

508

326

(20%)

(36%)

Energy coal sales (kt)

819

862

5%

453

472

390

(14%)

(17%)

Source from the official website of South32

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