Coal miner Stanmore Coal’s integration of the BHP Mitsui Coal (BMC) coal assets continued during the three months to June, following the company’s completion of the acquisition of an 80% interest in the assets in May.
Stanmore on Thursday reported that run-of-mine coal production for the quarter ended June had reached 2.9-million tonnes, up from the 1.02-million tonnes produced in the March quarter, while saleable coal production in the June quarter reached 2.2-million tonnes, up from the 565 000 t produced in the March quarter.
Of the coal produced, Stanmore’s share of run-of-mine production amounted to 2.5-million tonnes in the quarter, while its share of saleable coal production amounted to 2-million tonnes.
“The completion of the BMC acquisition and transition of the employees and operating assets into Stanmore marks an important period in our history. Production from the quarter has been strong notwithstanding unseasonal wet weather experienced mid-quarter. The market continues to be volatile with increasing inflationary cost pressures being seen via supply chain constraints and tightness in the labour market,” said Stanmore CEO Marcelo Matos.
In the year-to-date, Stanmore reported a 3.9-million tonne run-of-mine production, and a 2.8-million tonnes of saleable coal production.
For the quarter ended June, coal sales reached 2.4-million tonnes, and for the full year, 2.9-million tonnes, while product coal stockpiles at the end of both periods stood at 0.5-million tonnes. Stanmore’s share of total coal sales was recorded at 2.1-million tonnes in the June quarter, and 2.7-million tonnes in the year to date.