Whitehaven Coal Reports 92.7% Production Increase in Q2

Whitehaven Coal (WHC.AX) witnessed a significant 92.7% surge in its second-quarter production, fueled by robust contributions from its New South Wales and recently acquired Queensland mines.

New South Wales Operations

Whitehaven's New South Wales operations, which encompass the Maules Creek and Narrabri mines, experienced a modest 1.3% uptick in managed run-of-mine (ROM) coal production.

Queensland Mines

The company's Blackwater and Daunia mines, purchased from BHP Group, collectively produced 4.6 million metric tons of ROM coal in the three months ended December. However, this figure was approximately 14% lower than in the September quarter due to anticipated seasonal weather disturbances.

Notably, Daunia mine achieved a notable 34% sequential increase in sales volume to reach 1.5 million tons in the December quarter, driven by favorable coal availability, robust demand, and improved rail access on the Goonyella line.

Financial Performance

Whitehaven recorded an average realized price of A$226 per ton of coal sold in the quarter, surpassing the A$216 per ton achieved a year earlier.

Outlook

Whitehaven, Australia's leading independent coal miner, reported a managed ROM coal production of 9.7 million tons for the three months ended December, a year-over-year increase from 5 million tons and marginally exceeding the Visible Alpha consensus estimate of 9.5 million tons.