ARCHIVE

Atlantic Coal swimming in production in Q3

WHILE many operators are feeling the coal market pinch, US-based and London-listed Atlantic Coal ...

Donna Schmidt

This article is 12 years old. Images might not display.

The company, which wrapped up a railway diversion project in April that transformed its production efficiency, enjoyed a 130% year-on-year jump in clean coal production with 44,633 tonnes from its Stockton mine in Hazleton.

Its third-quarter 2011 total was 19,424t.

The company also sold 38% more coal than in the previous year. It recorded 33,336t for the period just ended versus 24,111t in last year’s comparable quarter.

Run-of-mine coal washed also more than doubled over 2011 to 107, 625t from 50,816t.

Realized prices did drop quarter on quarter due to a cyclical demand slowdown over the summer, but third-quarter average sales prices were $148.49, up from $146.98, on continued strong national demand for high quality anthracite.

Company officials said that it was also ready for the northern winter, with robust stockpile levels. It has targeted 42,416t run-of-mine and 23,435t clean coal for sale over during the season.

At least one analyst agreed with the miner’s perspective.

“While most other US producers cut production, Atlantic has been able to increase production and maintain prices as it produces anthracite for the domestic retail market,” a FoxDavies analyst said.

“We expect prices should pick up again in the third quarter as we head into the winter period in North America.”

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

Mining Magazine Intelligence: Automation and Digitalisation Report 2024

Exclusive research for Mining Magazine Intelligence Automation and Digitalisation Report 2024 shows mining companies are embracing cutting-edge tech

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets