Run-of-mine coal production from the Baralaba mine, 62.5%-owned by Cockatoo, reached 112,948 tonnes for the June quarter, a 37% jump year-on-year and a 4% increase from the previous three-month period
Cockatoo said output maintained recent gains as operational techniques were refined.
But sales fell with the mine not shipping any tonnage of pulverised coal injection (PCI) coal for the June quarter compared to 51,305t in the March quarter.
All coal sold last quarter was classified as thermal coal, reaching 62,785t compared to 30,239t of thermal coal sold in the March quarter.
Overall, June quarter production was 23% less than the total March quarter sales of 81,544t.
Cockatoo said sales last quarter were affected by cutbacks in PCI coal used by Japanese steel mills.
But the company added it had successfully re-negotiated a key contract with a major Japanese steelmaker on favourable terms, and another contract with a North Asian steel mill was negotiated in the June quarter.
Cockatoo said a spot sale of thermal coal for delivery to the north Asian utility market was also made.
Industrea subsidiary Huddy’s Mining Services also won a contract this week to conduct the mining operations of Baralaba.
Cockatoo managing director Mark Lochtenberg said the mine was targeting 60,000t per month of production for the next 24-36 months.
He said the award of the mining services contract followed above-market PCI coal trade outcomes.
For exploration, Cockatoo said 162 holes were drilled last quarter covering 19,778m in the Baralaba mine’s permits in the southern Bowen Basin.
The company said recent drilling had cumulative down hole coal intercepts of up to 19.4m with average intercepts of 8.7m.
A major focus has been drilling to the north of the Baralaba pit to aid medium to long-term mine planning.
For its Surat Basin project areas, Cockatoo drilled 77 holes covering 9221m, including four cored holes that stretched to a depth of 316m.
In other matters, the 37.5% stakeholder of the Baralaba mine, Republic Coal, started legal proceedings against Cockatoo on April 8.
Cockatoo said it was defending Republic’s claims and there had been no material progress on the matter in the June quarter.
Shares in Cockatoo closed down 1.5c to 41.5c on Friday.
