MIM has a 75% share in the Oaky Creek complex of mines and the Newlands-Collinsville-Abbot Point (NCA) project. Production from Oaky Creek totaled 1.626 million tonnes (75% share), up on the 1.539Mt for the previous corresponding period.
Increased production from Oaky North (1.026Mt) and the open cut (312,820t) compensated for lower output from Oaky No 1 mine and from the Alliance mine where production concluded during the quarter, the company said. This reaffirmed the value of production flexibility provided by multiple mine sources.
The development of the South-East extension of the No 1 mine was completed as scheduled and commissioning of the new longwall commenced in early April, expected to continue through the June quarter.
The Oaky Creek complex is on track to achieve a record-breaking 9Mt (100%) for the year ending 30 June 2002.
Production from NCA totalled 2.3Mt, compared with 1.8Mt for the previous March 2001 and is expected to continue at that level through the June quarter.
Output of product coal increased from all sources lifting overall production significantly ahead of the previous March quarter and close to the December quarter level despite an underground longwall move at Newlands, MIM said in its production report.
The company also reported that coal sales shipped through Abbot Point exceeded 1.3Mt (100%) in January, the highest monthly rate achieved by the port.
Despite failing in its bid for the Moura coking and steaming coal mine, MIM is continuing to focus on growing its coal business. (MIM's $321 million bid for 55% of Moura mine was pre-empted by Japanese group Mitsui, which already owned 45% of the mine.)
MIM reported that progress was made during the quarter on the feasibility study and environmental impact statement for the development of the Rolleston thermal coal resource in the southern Bowen Basin.
