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Anglo Pacific expects Narribri sales to exceed production

Saleable coal production for the quarter was 1.6 Mt, with coal sales of 1.6 Mt.

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Anglo Pacific acquired the royalty in March and is entitled to royalty income over 100% of sales from Narrabri.

Mining royalty specialist Anglo Pacific (LON:APF) expects sales this year from Narrabri coal mine in Australia to exceed its run of mine production.

Anglo Pacific acquired the royalty in March and is entitled to royalty income over 100% of sales from Narrabri.

The latest update from mine operator Whitehaven said it was affected by a scheduled longwall changeout, which meant Run of Mine coal production fell 52% to 1Mt in the three months to September.

Saleable coal production for the quarter was 1.6 Mt, with coal sales of 1.6 Mt. The sale of coal inventories resulted in coal sales exceeding ROM coal production. 

Julian Treger, Anglo Pacific’s chief executive, said:  "We are pleased to see Whitehaven achieve coal sales in excess of coal production during the past quarter.

“As a result, we would expect total Narrabri fiscal year 2016 coal sales to exceed saleable coal levels implied by Whitehaven's Narrabri ROM coal production guidance of 6.6 Mt to 6.8 Mt."

 

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