Whitehaven Coal downgrades saleable coal production guidance | Finance News Network

Whitehaven Coal downgrades saleable coal production guidance

Company News

by Kathy Skantzos

Mining company Whitehaven Coal (ASX:WHC) has downgraded its saleable coal production guidance for the year, even though the miner has reported a 10 per cent increase in coal sales for the December quarter.

A fault impacted coal production from the Narrabri mine, which was down 12 per cent for the quarter.

Saleable coal production reached 5 million tonnes for the quarter to 10.9 million tonnes for the year so far, and coal sales reached 5.8 million tonnes for the quarter to 11.9 million tonnes for the year.

Exploration expenditure during the December quarter was $1.1 million, bringing the half year expenditure to $1.6 million.

The mining company reported its safety performance improved to the lowest recorded by the company in 18 years.

Shares in Whitehaven Coal (ASX:WHC) are trading 3.84 per cent lower at $4.51.
 

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.