25-08-2017

South32's South African thermal coal output to fall 5% in 2017-18, but rise in 2018-19

TC

South32 expects its South African thermal coal production to fall 5% in fiscal 2017-2018 (July-June) to 27.50 million mt, due to delays in development of new pits, the Australia-listed company said Thursday.

The miner produced 28.91 million mt in fiscal 2016-2017, and expects production to fall to 27.50 million mt in the current fiscal year, before recovering to 29.35 million mt in fiscal 2018-2019.

"South Africa Energy Coal saleable production decreased by 9% (or 2.8 million) to 28.9 [million mt] in FY17, despite an 11% improvement in performance in the June 2017 quarter as throughput increased at the [Wolvekrans-Middelburg Complex] export plant," the company said.

South32 said the expected 5% drop for fiscal 2017-2018 is expected due to a prior delay in development activity at WMC, and depletion of the North dump continuing to weigh on performance, it said.

Production for domestic use is forecast at 16 million mt in the current fiscal year and 15.85 million mt for the next. Production for export is expected at 11.50 million mt and 13.50 million mt, respectively.

Source: Platts 

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