Total sales volumes from Curragh of 8.6 million tonnes (6Mt metallurgical and 2.6Mt steaming) were 22.2% above those achieved in the 2004-05 year.

Earnings for the year were well above last year’s, due to higher metallurgical coal volumes and prices, partly offset by higher production and tonnage-related costs, with the rail system and port capacity constraints also impacting export sales.

The full year highlights included completion of the civil works associated with the new Curragh North coal development, coupled with 3.2Mt of coal exposed and mined from Curragh North during the year, which underpinned a 31.6% increase in metallurgical coal sales volumes.

Total project capital expenditure associated with the development remains within the budgeted $360 million. The 20km long conveyor and coal handling system to transport coal to Curragh from Curragh North is 80% complete and is expected to be commissioned in the fourth quarter of this calendar year.

Looking forward, the company predicts export coal businesses will benefit from firm demand and continuing above-average prices, although revenue will be lower than in 2005-06 as prices come off their record highs.

Achieving increased sales volumes in the near term will require satisfactory levels of performance from rail and port infrastructure, the company said.