19 July 2024

June 2024 Quarter Production Report

Group highlights

• FY24 total recordable injury frequency rate (TRIFR) from NSW of 3.3 for employees & contractors, a 30% improvement on FY23. June quarter TRIFR from QLD of 6.6. Safety results to be consolidated from FY25.
• Managed ROM production of 9.7Mt for the June quarter and 24.5Mt for FY24, up 34% on FY23. Total equity sales of produced coal of 6.5Mt for the June quarter and 16.4Mt for FY24, up 26% on FY23.
• Revenues for the quarter reflected ~59% metallurgical and ~41% thermal coal sales – proportion of metallurgical coal sales expected to increase given transition-related short-term logistics constraints in QLD.
• Whitehaven’s net debt position at 30 June 2024 was A$1.3 billion, subject to audit, reflecting prudent capital management.

Strong QLD production following successful integration of Blackwater and Daunia

• Acquisition of BMA’s Daunia and Blackwater metallurgical coal mines completed on 2 April 2024, with a successful transition during the June quarter.
• Managed run-of-mine (ROM) production of 4.8Mt from QLD operations, within guidance of 4.5-5.0Mt.
• QLD sales of 3.2Mt reflect some slippage into the September quarter largely due to transition-related railing constraints from Daunia, now improved.
• Average coal price of A$271/t achieved from the newly acquired QLD operations in the quarter.

Continued strong production from NSW open cuts and improvements at Narrabri

• Managed ROM production of 4.9Mt from NSW for the quarter and 19.7Mt for FY24, well within guidance of 18.7-20.7Mt.
• NSW equity sales of produced coal of 3.3Mt for the quarter and 13.2Mt for FY24, also well within guidance of 12.7-13.9Mt.
• Average coal price of A$207/t achieved from NSW operations in the quarter and A$217/t for FY24.
• Successful first production and sales from early mining of Vickery and completion of mining at Werris Creek.

Comments from MD and CEO Paul Flynn

“I am pleased to report a strong first quarter of production from the newly acquired Queensland operations.

“Transition and integration activities progressed smoothly during the first quarter of ownership and we are already seeing the benefits of diversification and exposure to the supply-constrained
metallurgical coal market.

“In New South Wales, we finished the year with a strong result from our open cut mines and improved performance from the Narrabri underground mine. Overall, production and sales outcomes were well within guidance for the year.

“I congratulate Whitehaven’s expanded workforce on the outcomes delivered in the June quarter, and look forward to continuing to deliver on our strategic priorities in FY25.”

Read the full June 2024 Quarter Production Report here.

 

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