BHP reports strong growth in 3Qs thermal coal production Company,  Production & Sales,  Thermal Coal 2024-04-18 14:51:34

Mining giant BHP reported a 23% year-on-year increase in thermal coal production from its operations in New South Wales, Australia during the first nine months of the 2023-2024 financial year.


BHP's thermal coal production in New South Wales reached 11.62 million tonnes from July 2023 to March 2024, up from 9.41 million tonnes in the same period a year earlier, according to the company's announcement released on April 18.


The improvement was attributed to better weather conditions and increased truck haulage efficiency at the company's mining sites, it said.


BHP has started selling thermal coal to Australia's domestic market since the fourth quarter of FY 2022-2023, following a price emergency notice issued by the New South Wales government. This has resulted in a decline in the proportion of washed coal, while also driving an overall increase in sales volumes, it said.


In the first nine months of the current financial year, BHP's thermal coal sales reached 11.49 million tonnes, up 28% year on year. Exports accounted for 10.59 million tonnes, a rise of 18%, while domestic sales stood at 902,000 tonnes.


Thermal coal production in the March quarter was 4.15 million tonnes, up 5.5% year on year and 7.6% higher than the previous quarter.


During the same period, the company's coal sales totaled 3.93 million tonnes, an increase of 7.2% year on year but a decrease of 7.5% from the previous quarter. Exports accounted for 3.56 million tonnes, while domestic sales reached 374,000 tonnes.


The company's average realized thermal coal price was $116.11/t in the first three months, and $120.97/t for the first nine months of the financial year.


BHP expects its thermal coal output in the current financial year to reach the upper end of its production guidance of 13-15 million tonnes.


(Writing by Alex Guo  Editing by Harry Huo)
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