Aussie coal miner Whitehaven Coal Ltd
(ASX:WHC) has reported a 12% rise in coal production and 4% increase in coal sales for the March quarter.
Saleable coal production for the three months to March 31 came to 853,000 tonnes, up 35% for the year to date to 2.578 million tonnes.
The coal miner says output and sales for the quarter were negatively affected by wet weather in January and the derailment of a grain train in the lower Hunter Valley in March.
However, overall performance remained in line with plan for the three month period.
Coal sales for the March quarter came to 1.2 million tonnes up 4%, the miner saying that port capacity of 3.6 million tonnes a year at Port Waratah Coal Services remained a constraint during the quarter.
However the new NCIG coal export terminal at Newcastle, of which Whitehaven owns 11%, shipped its first coal in late March and is now ramping up to capacity.
Whitehaven says as at March 31 the company had cash on hand of $164 million.
Whitehaven Coal’s earnings for the year to June 30, 2009 came to $244.21 million.
