“The successful quarter was driven by continued strong performance at our existing operations and the contribution from Viking, our fourth longwall, which started operations at the beginning of June,” Foresight president and CEO Michael Beyer said.
“The startup of the Viking longwall adds another low-cost mine to Foresight’s portfolio of leading underground mining operations.”
While a mine fire incident shut down the Deer Run operation in mid-July, Beyer said its equipment and capacity was not damaged and it could resume normal operations next week.
The company, which floated in June, produced 5.6 million tons of coal with 5.4Mt sold in the recent quarter.
Foresight posted a net income of $US29.48 million for the June quarter – up 110% year-on-year.
