Gloucester Coal’s sales volumes below expectations in fiscal Q2

Wednesday, 25 January 2012 14:52:29 (GMT+3)   |  
       

Australia-based mining company Gloucester Coal has issued its operational results for the second fiscal quarter ended on December 31, posting a significant growth in coal output.
 
In the second quarter of the 2011-12 financial year, Gloucester increased its total coal output by 149 percent year on year to 1.12 million mt.
 
According to Gloucester's statement, in the given quarter, despite the ongoing development and growth projects in both Gloucester Basin and Donaldson and the record coal mining performance at the Duralie mine, sales volumes were below expectations. Gloucester's coal sales in the quarter in question reached 1.11 million mt, compared to 494,000 mt in the second quarter of the previous financial year. Sales volumes also registered a 75 percent increase compared to the previous quarter due to the addition of the Donaldson operations and the ramp-up of Middlemount.

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