TerraCom Limited Announces the Coal Sales for the Month and Quarter Ending March 31, 2020; Provides Coal Sales Guidance for the Full Year of 2020, from Blair Athol Mine
April 06, 2020 at 07:20 pm EDT
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TerraCom Limited announced the coal sales for the month and quarter ending March 31, 2020. From the Blair Athol Mine (Queensland, Australia), the company reported March 2020 quarter coal sales of 630,000 tonnes (being a 7% improvement compared to the prior corresponding period).
Year to date coal sales to 31 March 2020 of 2.04 million tonnes (being a 13% improvement compared to the prior corresponding period). Due to inclement, cyclone type weather during the March 2020 quarter on the Queensland coast, the port experienced loading delays. This resulted in a 79,000 tonne shipment being deferred to April 2020; however, the coal was on stockpile ready to be shipped as at 31 March 2020. Had this shipment been loaded during the quarter, the total coal sales would have been 709,000 tonnes, which is a run rate of 2.84 million tonnes per annum. From the BNU Mine (South Gobi, Mongolia), The Company had coal sales of only 48,000 tonnes. The BNU Mine was negatively impacted by the impacts of COVID-19 through the closure of the border between China and Mongolia. Export has not recommenced; however, the Company is well placed for export recommencement with 65,000 tonnes of coal on the stockpile.
The company provided coal sales guidance for the full year of 2020, from Blair Athol. Blair Athol is forecasting coal sales for the 2020 financial year of 2.9 million tonnes.
TerraCom Limited is a mining resources company comprising a portfolio of operating assets in Australia and South Africa within the coal sector. Its Australian Business Unit comprises one operational mine, the flagship Blair Athol Coal Mine located in Clermont, Queensland. Its Springsure project consists of contiguous tenements, such as EPC 1674, EPC 1103 and MDL 3002 and is situated in the Central-Western Bowen Basin Coal Mining District of Queensland, covering approximately 1,178 square kilometers. Its Clyde Park Coal project consists of contiguous tenements, such as EPC 1250 and EPC 1260, situated on the northeastern edge of the Galilee Basin in Queensland, covering approximately 133 square kilometers. Its Northern Galilee project is a consolidation of the Hughenden and Pentland projects, comprising tenements, such as EPC 1300, 1394, 1477, 1478, 1479, and others. Its South African operations and projects include Kangala Colliery, Ubuntu Colliery, and Arnot South, among others.
TerraCom Limited Announces the Coal Sales for the Month and Quarter Ending March 31, 2020; Provides Coal Sales Guidance for the Full Year of 2020, from Blair Athol Mine