Bowen Coking Coal (ASX:BCB) Reports Record Quarterly Sales
Sales and Production Highlights
Bowen Coking Coal Ltd (ASX:BCB) achieved a record quarterly coal sales of 544 kilotonnes (Kt) for the current quarter, reflecting a significant 31% increase from the prior quarter. The strong performance occurred as the Company maintained robust production levels from its Burton Mine Complex near Moranbah.
The operation successfully produced an equal volume of Run-of-Mine (ROM) coal during the same period, aided by an impressive Coal Handling and Preparation Plant (CHPP) availability of 96%. Additionally, the utilisation rate at the CHPP reached 92% as of 30 November 2024.
Bowen’s Plumtree North mine development is progressing ahead of schedule, with the first ROM coal extracted in November 2024.
Operational Performance
The Burton Mine Complex dispatched 11 cargoes of coal, with 58% of the volume being coking coal. The primary contributor to this production was the Ellensfield South Mine. The Plumtree North Mine added 13Kt of ROM coal to the total, while the Broadmeadow East Mine contributed 12Kt through augering.
Capital expenditure remains in line with the Company’s forecasts, with costs projected at A$150 per tonne excluding state royalties for the second quarter of FY2025.
Executive Comments
Mr Daryl Edwards, Chief Executive Officer, expressed pride in achieving this milestone, stating, “The Burton Mine Complex continues at steady-state and we are proud to report another record being achieved, this time a quarterly coal sales record.” He added, “We have now overtaken any sales shortfall previously reported, with 0.96Mt being sold this financial year to date, guiding to the top end of our annual outlook range of 1.6-1.9Mt.” Mr Edwards reiterated the Company’s commitment to maintaining production, cost improvements, and exploring expansion opportunities at the Burton Complex.
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