21 January 2022
December 2021 Quarter Production Report
- Whitehaven achieved coal pricing averaged A$211/t for the quarter (FY21 A$94/t, Q2 FY21 A$86/t)
- December quarter managed run-of-mine (ROM) production 3.2Mt
- December quarter managed saleable coal production 3.0Mt
- December quarter total managed coal sales 4.0Mt, managed own coal sales 3.5Mt, total equity coal sales 3.3Mt and equity sales of own coal 2.9Mt
- Managed coal stocks 2.1Mt as at 31 December
- Whitehaven expects to fully repay its senior debt facility in February 2022 and be in a net cash position in March 2022
- Narrabri longwall relocation from panel 109 to 110 successfully completed in December
- Weather events across the Gunnedah Basin and Hunter Valley have impacted operational productivity and road access, resulting in a cumulative impact on production and sales volumes for the quarter. FY22 guidance has been updated to account for the effects of significant rainfall associated with La Niña and COVID-related labour shortages.
Comments from Whitehaven Coal Managing Director and CEO Paul Flynn:
“Coal prices continued at attractive levels through the December quarter and remain well supported for the near future given strong underlying demand and persistent supply-side disruptions.
“Cash generation has been strong, with the business expected to be net cash in the March quarter.
“Whitehaven has unfortunately not been immune to recent heavy rains that impacted large parts of regional NSW and QLD as La Niña made its presence felt for the second Australian summer in a row.
“While we remain very confident about ongoing favourable supply and demand dynamics, there is elevated uncertainty associated with COVID’s impact on workforce availability and resourcing through our supply chains.
“The strong balance sheet and robust market environment is an appropriate backdrop to provide an update on our capital management strategy with our half year results.”
Read the full December 2021 Quarter Production Report here.Back to News