Australia-based miner Whitehaven Coal Limited has announced its financial and operational results for the financial year 2023-24 ended on June 30.
In the given year, the company has reported a net profit of $740 million, compared to a net profit of $2.65 billion in the previous financial year, while its revenue totaled $3.82 billion, down by 36.9 percent year on year. The company produced 24.46 million mt of coal in the given period, up by 34.4 percent year on year, while its coal sales amounted to 19.52 million mt, increasing by 22.1 percent compared to the previous financial year.
The company forecasts its coal production in the financial year 2024-25 to be at the range of 35.0-39.5 million mt and coal sales to be at the range of 28.0-31.5 million mt, both reflecting operational improvements and completion of coal mine acquisitions.
Meanwhile, recently the company signed agreements with Japanese steel producers Nippon Steel Corporation and JFE steel to sale 20 percent and 10 percent interests respectively in the Blackwater coal mine in Queensland, Australia, as SteelOrbis previously reported.
