20 April 2022

March 2022 Quarter Production Report – on track to deliver FY22 production guidance


  • Whitehaven achieved a record average coal price of A$315/t for the quarter (pcp A$101/t, 1H FY22 A$204/t)
  • March quarter managed run-of-mine (ROM) production of 5.2Mt up 62% on Dec qtr and down 5% on pcp, reflected solid operational performance improvements
  • March quarter managed saleable coal production of 4.5Mt up 50% on Dec qtr and up 5% on pcp
  • Managed sales of produced coal of 4.4Mt up 5% on pcp and equity sales of produced coal of 3.5Mt up 3% on pcp
  • Managed coal stocks of 2.1Mt at 31 March in line with 2.1Mt at 31 December 2021
  • After buying back $67 million of shares and paying $80 million in dividends in March, WHC is $161 million net cash at 19 April 2022
  • On track to deliver FY22 guidance.

Comments from Whitehaven Coal Managing Director and CEO Paul Flynn:

“Coal prices increased to record levels during the March quarter and remain very well supported in an environment of strong demand and constrained supply.

“Operational and product quality improvements were delivered in the quarter.

“A tight labour market, COVID-related absenteeism, and wet weather events slowed operations and disrupted rail and port activities.

“Despite this drag on production and sales, we are on track to deliver FY22 guidance.

“Cash generation was strong in the March quarter. As at 19 April the business holds a $161 million net cash positive position.

“As the developed world re-focuses on the critical importance of energy security, Whitehaven presents a compelling investment thesis.”

Read the full March 2022 Quarter Production Report here.

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