Whitehaven Coal (ASX:WHC)
shaves its full-year production guidance to 20.4 million tonnes (Mt) from its range of 20.6 to 21.4 million tonnes after “downtime” in the Narrabri mine and a weaker performance at Gunnedah in NSW.
The $1.92 billion miner said the guidance cut was following a pause in production due to the completion of engineering works at Narrabri to support the longwall operation after a recent geological event. This is the company's forth downgrade since the start of the year.
Overhaul works on the longwall and machinery repairs are expected to be completed in the coming days.
The coal maker said stronger-than-expected production performance at Maules Creek is expected to deliver 12.5Mt for the full year.
Combined with production output of 3.8Mt at the Gunnedah Open Cuts - down from a range of 3.9Mt to 4.1Mt - total open cut production is expected to deliver 16.3Mt in the 2021 financial year.
The company has undertaken a program of geo-sensing drilling to provide confidence around the geological conditions in the remainder of the Longwall 109 panel. The miner notes that drilling has not identified any significant geological features.
Shares in Whitehaven Coal (ASX:WHC)
are trading 9.71 per cent lower at $1.842.