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The Stratford preparation plant produced 2Mt of product for the year from a total of 3.1Mt ROM coal.
The New South Wales miner continued to experience an increase in demurrage costs in the June quarter, but said the vessel queue was forecast to drop to less than 50 vessels by the end of July.
Under the capacity allocation scheme, Gloucester will be required to reduce the tonnage shipped through the port to less than 2Mt over the new financial year.
“This will negatively impact sales in 2007/8 although the scheme is forecast to reduce demurrage costs which have cost the company almost $4.4 million in the 06/07 financial year,” the company said.
Over the year Gloucester has spent $A2.1 million on exploration, and continues to focus on land acquisition over prospective areas and converting resources into mineable reserves.
Gloucester has two open cut coal operations, Stratford (Bowens Road North) and Duralie, both located in the Gloucester Basin of New South Wales.
