MARKETS

Production boost for Centennial

CENTENNIAL Coal has kicked off the new financial year with solid production increases from its Ne...

Kate Haycock
Production boost for Centennial

For the three months to September, the company’s equity share of run of mine production increased to 5.2 million tonnes, up 28% on the previous quarter and 11% year-on-year.

On a tonnes under management basis, Centennial’s production rose 28% quarter-on-quarter to 6.3Mt.

Much of the increased tonnage came from Mandalong, which produced a record 1.4Mt of coal during the three months to September, a 50% increase year-on-year.

Angus Place produced 964,000t for the quarter, while Mannering produced 265,00t of raw coal, 52% above the previous quarter.

The Sydney-based company will also net some $A1.1 billion from the sale of its Tahmoor and Anvil Hill mines.

However, Tahmoor produced some 2.3Mt during the 2007 financial year and contributed 574,000t during the September quarter.

Centennial said today the sale of the mine will “have an effect” on its domestic/export balance, but added that it was working to increase exports from its other projects to make up for the shortfall.

“The new financial year is off to a strong start, with record production from several of our mines. In addition, we have successfully completed the sales of each of Anvil Hill and Tahmoor,” Centennial managing director Bob Cameron said.

The company finalised the sale of Anvil Hill to Swiss giant Xstrata yesterday.

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