Strong sales for its NSW and Qld operations anchored Whitehaven’s quarterly results, with the company reporting solid run-of-mine (ROM) production and improved pricing across its coal portfolio in the March 2026 quarter.
Managed ROM production totalled 9.5 million tonnes (Mt), down 14 per cent on the December quarter, reflecting seasonal impacts and a particularly strong prior period. Despite this, equity sales of produced coal reached 6.8Mt, broadly consistent with the previous quarter and tracking at the upper end of full-year guidance.
Whitehaven chief executive officer and managing director Paul Flynn said production outcomes aligned with expectations, supported by strong contributions from New South Wales open cut operations and resilient performance in Queensland despite wet weather disruptions.
For the first nine months of FY26, Whitehaven has produced 29.5Mt of ROM and remains on track to finish in the upper half of its full-year guidance range.
In Queensland, managed ROM production of 4.1Mt was 28 per cent lower than the December quarter due to seasonal wet weather. However, equity sales rose eight per cent to 3.2Mt, supported by stock drawdowns enabled by prior wet weather preparation. The average achieved price for the quarter was $242 per tonne, with metallurgical coal realisations at 74 per cent of the PLV HCC Index.
Coal prices strengthened over the period, with PLV HCC rising 18 per cent and gC NEWC increasing 11 per cent compared to the December quarter.
Whitehaven also reported ongoing progress on cost reduction initiatives, remaining on track to deliver between $60 million and $80 million in annualised savings by 30 June 2026. Unit costs are expected to remain within guidance of $130–145/t for the full year, with higher thermal coal prices offsetting increased diesel costs.
The company’s financial position strengthened over the quarter, with net debt reducing to $0.6 billion as at 31 March 2026, down from $0.7 billion at the end of December. Whitehaven also completed a refinancing of its acquisition debt and related facilities in April, securing US$900 million in senior secured notes and US$600 million in bank funding.
The refinancing is expected to deliver annual interest savings of $50–55 million from May 2026, further supporting the company’s balance sheet.