Australia's Stanmore 2023 coal output exceeds guidance

sxcoal.com Company,  Production & Sales,  Cost & Profit,  International 2024-02-29 08:55:39

Saleable coal output of Australian mining company Stanmore Resources beat its guidance of 12.3-13 million tonnes, despite adverse weather affecting operations, showed data from the company's yearly report released on February 26.

 

In 2023, Stanmore totally produced 13.2 million tonnes of salable coal at full capacity, 43.47% higher than 9.2 million tonnes in 2022, which was equivalent to the full-year production from the former BHP Mitsui Coal assets acquired in May 2022.

 

It sold 12.8 million tonnes of produced coal last year, rising 37.63% from 9.3 million tonnes in the prior year, data showed.

 

All of the company's operations including South Walker Creek, Poitrel and Issac Plains Complex posted year-on-year saleable production increases in 2023. South Walker Creek's output hit a new high of 6.3 million tonnes.

 

Stanmore's mining businesses recovered well after being affected by wet weather conditions, especially in the first quarter of 2023. Additionally, logistics operations at South Walker Creek improved in the second half of 2023, supported by a newly contracted rail service provider. South Walker Creek is making efforts to expand rail capacity to ease ongoing logistics chain constraints in Queensland's infrastructure network.

 

Stanmore's costs in 2023 amounted to $86/t FOB due to inflationary pressures and operating costs, rising $3/t compared to 2022. Given Millennium's relatively high unit costs, the company's costs per tonne are expected to further climb up in 2024, with a guidance range of $99-104/t, the report noticed.

 

The company's earnings before interest, taxes, depreciation and amortization (EBITDA) were $1.07 billion last year, down 4.73% from $1.12 billion in 2022. The Coal sale price averaged $214/t, much lower than $290/t in 2022.

 

Stanmore plans to produce 12.8-13.6 million tonnes of saleable coal in 2024, including additional production from its Millennium complex.

 

(Writing by yan.sun  Editing by Alex Guo)
For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.

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