Resource Pacific purchased the mine in mid-October so only 2.5 months of production and 101,000t of sales were attributable to the company.
During the quarter Resource Pacific secured favourable coal sale contracts for all of its budgeted production.
“The traditional link between semi-soft coking coal and thermal coal prices has clearly been broken with semi-soft coking coal prices reflecting its growing importance as a metallurgical coal with prices progressing towards a closer alignment with hard coking coal prices, rather than being prices as a premium to thermal coal,” Resource Pacific said.
Looking ahead to the third quarter, the mine will commission a continuous miner, taking its fleet to five.
Resource Pacific’s financers are currently reviewing the feasibility study to support the expanded longwall case mine plan for Newpac.
