I am delighted to provide my Chairman’s Report on Whitehaven Coal’s performance during the 2015/16 financial year. I am pleased to report we are on track to achieving our stated goal of becoming Australia’s leading independent coal company.
The Company has delivered improved results this year. I am pleased to report to shareholders that Whitehaven Coal:
- Produced a record amount of coal at more than 20 million tonnes
- Recorded the first full year profit since 2012
- Reduced costs
- Improved high safety standards
- And strengthened the balance sheet by reducing debt
In my report last year I described the delivery of first coal from our world-class Maules Creek mine. Today, 12 months on, our range of assets – from the Tier 1 Maules Creek and Narrabri mines to our strong performing smaller open-cut operations – have produced a year of delivery and ensured your Company heads into 2017 in a position of strength.
I am pleased to report to shareholders that Whitehaven, led by CEO and Managing Director Paul Flynn, has delivered not just on our aspirations but also on all the hard targets we set twelve months ago.
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