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Glencore H1 Thermal and Coking Coal Production Increases by 5% to 71.2mt

Glencore reported that its HI coking coal production stood at 71.2 million metric tonnes, up by 5 pct from 67.8 million metric tonnes of the same period last year. The main driven factor for the increased production is the progressing expansion process at its Australian thermal coal operations and expanded production at its Colombian Cerrejon mine.

Australian thermal and semi-soft coal output was about 30.5 million tonnes in the first half, up by 8 pct. The miner said that the increased production is due to the relates to the expanded production at Ravensworth North, Rolleston, Ulan underground and Bulga mine and the commencement of longwall mine at Ulan West. Australian coking coal production has decreased by 28% to about 2.9 million metric tonnes.

The average price of Australian coking coal exports was about $123/mt during H1, down from $155/mt of previous year same period. The H1 average price for its semi-soft exports have decreased to $98/mt from $118/mt in the same period last year.

During the first half, the company exported Australian thermal coal at an average price of $75 per million tonnes, decreased from $86/mt of the previous year. H1 thermal coal production at Cerrejon stood at 5.9 million tonnes, up by 31%. The average price at which they exported the share of Cerrejon production was $68/mt, decreased by $8 when compared with that of the same period last year.

The other unit of the company in Colombia, Prodeco has mined about 10.2 million metric tonnes of thermal coal in the first half, up by 6% from that of H1 2013. Average export price was at $78 million tonnes at Prodeco, fell by $10. The company’s South African thermal coal production during H1 was flat at about 21.7million tonnes, mainly due to the commission of the Wonderfontein open cut mine. The average export price of the thermal coal from South Africa stood at $72.mt during H1 2014.

Source:Scrap Monster


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