Eastern recovering from last year's losses

NEW Zealand's Eastern Corporation has made a slight recovery from its $3 million loss in the six months to December 2007, finishing the March quarter $292,000 behind.
Eastern recovering from last year's losses Eastern recovering from last year's losses Eastern recovering from last year's losses Eastern recovering from last year's losses Eastern recovering from last year's losses

Courtesy Eastern Corporation Limited.

Christine Feary

Total sales from Eastern's Cascade and Takitimu mines on the South Island reached 15,569 tonnes of coal, bringing in $1.225 million.

Overburden removal continued at the Cascade opencut mine, which produced 9847 raw tonnes of low ash, low sulfur coal in the March quarter.

A new mine access road was completed during the quarter for trucks hauling coal from the mine to the Denniston stockpile area. Rerouting the mine access road has allowed Eastern access to coal in the Gravel Pit Block, where overburden removal is being carried out.

The Takitimu coal mine produced 9426 raw tonnes of sub-bituminous coal, of which 7271t were sold to local industry for a total of $423,594.

Major excavation work for a new coal stockpile and loadout area was completed during the quarter, while overburden removal remained on track at 75,000 cubic metres per month.

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