Moolarben Coal’s 2014 production was up one per cent on the previous year according to Yancoal’s quarterly update announced to the Australian Securities Exchange this week.
For the year ending December 2014, Moolarben produced 6.36 million tonnes of saleable coal and an increase was attributed to a “product optimisation strategy introduced in the previous quarter” which “continued to generate steady production throughout the reporting period”. Yancoal’s Australian operations produced 16.7 million tonnes of total saleable coal in 2014.
During the December quarter Moolarben also concluded arrangements to secure access to all remaining land required for the future development of the Moolarben Stage Two project, if approved.
The Stage Two project is currently seeking final approvals from the NSW Planning Assessment Commission and a decision is expected in the first quarter of 2015.
A statement from Yancoal said steady production gains continued to be achieved in line with the previous quarter.
“Minimal movement in metallurgical and thermal coal prices throughout the period continued to restrict new market growth, with NSW operations maximising blending opportunities in response,” the ASX statement said.
“The Australian dollar’s steady decline throughout the quarter further alleviated operating and export costs, building on gains achieved in the previous quarter.
“Marketplace uncertainty continues as proposed quality standards for coal imports into the provinces of Beijing-Tian Jin-Hebei, Yangtze River Delta and Pearl River Delta regions are yet to be finalised by China’s National Development and Reform Commission. The Australian government and industry continue to closely monitor and assess the situation, with the quality standards yet to impact Yancoal’s existing contracts.”
Source: Mudgee Guardian, Jan 23, 2015
http://www.mudgeeguardian.com.au/story/2833746/production-increase-and-planning-permission-for-moolarben/
