MARKETS

Earnings outlook up for US major

CONSOL Energy reports an improvement in coal output for June compared with last June, largely bec...

Staff Reporter

Consol’s mines produced 16.5 million tons in the second quarter, compared with 15.5 million tons last second quarter. Production for June was 5.1 million tons, compared with 4.5 million tons last June.

The company has begun work to reopen its Emery Mine in Utah after an agreement to sell Emery fell through when the buyer was unable to secure financing. Production is expected to resume in August with about 200,000 tons to be mine in 2004 to meet production requirements on federal leases.

Gross gas production improved in the June period-to-period comparison. Electricity production also improved slightly, reflecting higher demand for electricity.

The company has lifted its earnings outlook for the June quarter to about US$0.25 per diluted share because of the positive impact of higher energy prices and cost reductions for retiree health care.

Earnings for June are to be announced on July 26.

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

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

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production