SURFACE

Stanmore June quarter production soars

The underlying free-on-board costs for the June quarter were $78/t sold.

 Stanmore Coal's Isaac Plains mine in Queensland.

Stanmore Coal's Isaac Plains mine in Queensland.

Full year production of 2.39Mt product, was above guidance of 2.3Mt.

 

The underlying free-on-board costs for the June quarter were $78/t sold.

 

Year-to-date underlying FOB costs were $89/t sold, which was slightly above guidance due to the overperformance of excavators resulting in very minor cost increases but higher saleable coal production for the year.

 

However, the June quarter was a disappointing quarter for safety with five injuries recorded at Isaac Plains, and another injury at Stanmore's other projects and tenements.

 

The 12-month total recorded injury frequency rate at the end of the June 2019 quarter was 16.7.

 

"An intervention plan is being developed and this, in conjunction with the implementation of the Fatal Risk Standards and Life Saving Rules, is expected to correct the result and significantly improve safety performance," the company said.

 

 

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