MIM posts strong third quarter performance

MIM Holdings has said its coal division performed well in the September quarter with product coal output in line with the corresponding period last year.

Staff Reporter

Brisbane-based MIM Holdings reported that its coal division posted strong mine and washplant performances for its 75% owned Queensland operations. (For details on results related to MIM's other commodities see MiningNews.net)

At MIM's 75% owned Oaky Creek operations (including the Oaky No 1 mine, Oaky North and Alliance mine) in central Queensland, strong mine and washplant performances continued. Increased product coal output from the Oaky North and No 1 longwall operations offset a planned reduction from Alliance and from the open cut where operations concluded in late 1999.

Product coal output was in line with that for the previous September quarter. A scheduled longwall move was completed at Oaky North, with washplant output maintained from run-of-mine stocks.

At MIM's 75% owned Newlands-Collinsville-Abbot Point operation, product coal output from was ahead of the previous September quarter.

Product coal output was increased at both operations with run-of-mine stocks drawn down to meet higher sales demand during the quarter. A scheduled longwall move at Newlands was completed during the quarter, with washplant output maintained from open cut operations and run-of-mine stocks.

During the quarter, Oaky Creek produced 1.427Mt coking coal (production figures 75% of total). The No 1 mine produced 646,253t, Oaky North produced 687,593t and the Alliance operation produced 93,840t.

The Newlands operation produced a total of 1.532 Mt for the period, with 923,105t from the Newlands longwall mine.