Oct 23 (Reuters) – Australia’s Whitehaven Coal reported about a 22% rise in first-quarter output on Friday, driven by resilient production in its Queensland operations and volume recovery at its New South Wales mines.
The country’s top independent coal miner reported managed run-of-mine coal production of 11 million metric tons for the three months ended September 30, up from 9 million tons a year ago.
That beat the Visible Alpha consensus estimate of 9.5 million tons.
The company earned A$226 per metric ton of coal sold in the quarter, compared with an average of A$188 a ton last year.
The temporary impact of sales slippages and elevated inventories is expected to unwind in the second quarter, Whitehaven said.
(Reporting by Keshav Singh Chundawat and Jasmeen Ara Shaikh in Bengaluru; Editing by Pooja Desai)
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