It said Blair Athol produced and sold 2.2 million tonnes in the 2020-21 financial year despite the challenges associated with the ongoing global economic uncertainties.
"The successful transition to owner-operator occurred at the end of July 2020 with initial projections of a reduced coal sales production profile of 2Mtpa," the company said.
"However, the team has implemented numerous operational efficiency gains and consistently delivered above expectation to achieve total coal sales of 2.2Mt for the 2021 financial year."
Those led to the mine achieving a 17% reduction to free-on-board operating costs.
"The substantial reduced FOB cost base of approximately A$60 per tonne [since August 2020] enables Blair Athol to sustain strong margins at long run coal prices and capitalise on market upturns, which are currently being experienced," Terracom said.