Coal price in free fall

Townsville Bulletin - - NEWS -

WHITE­HAVEN Coal’s sales are on the rise but it ex­pects prices to con­tinue to fall. The miner achieved a 46 per cent im­prove­ment in coal sales in the three months to June, due mainly to in­creased pro­duc­tion at its Narrabri mine and the com­mis­sion­ing of its con­tro­ver­sial Maules Creek pro­ject. More than 1.4 mil­lion tonnes of coal was pro­duced at Maules Creek in the June quar­ter, and pro­duc­tion will soon reach an an­nual 8.5 mil­lion tonnes. But coal prices have con­tin­ued to fall due to an over­sup­ply in the mar­ket and lower Chi­nese de­mand, though White­haven said it had been shielded by the high qual­ity of its ther­mal coal.

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