Coal of Africa says FY Q2 output falls 24.3% q/q.

By bne IntelliNews February 4, 2013
South African producer of thermal and coking coal Coal of Africa (CoAL) said its run of mine (ROM) coal output for its fiscal Q2 to end-December 2012 fell 24.3% from the previous quarter to 1.15 million tonnes as a result of scheduled shutdown over the festive season and wage related strike at its Mooiplaats colliery. CoALs export coal sales from the Matola Terminal increased by 83% q/q to 411,292 tonnes thanks to creased demand, availability of rail capacity and the reduction of inventory build-up in the previous quarter. Coal sales to the domestic market fell 17.8% q/q to 154,186 tonnes due to the strike at Mooiplaats, while sales of middlings coal to South Africas national power utility Eskom grew 26% q/q to 264,169 tonnes. CoAL said it has restarted limited operations at its Vele Colliery in the Limpopo Province after halting them on January 21 due to heavy rainfalls and flooding, adding that production is targeted for the first week of February.
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