CNA Corona Resources Ltd (delisted)

Thermal coal demand from Japanese power stations will be subdued over the next six to 12 months and coal vessels are being rescheduled to manage supply, Australia's largest thermal coal producer, Coal & Allied Industries Ltd. (CNA.AU), said Wednesday.

In a first-quarter production report, the miner said any fall in demand from Japan will be made up by consumers elsewhere in Asia.

"The devastating impacts of the earthquake and tsunami in Japan have impacted coal-fired power stations and general industry north of Tokyo and on the country's east coast. Some of our customers have been affected and we continue to work with those customers to reschedule vessels and to help manage supply in the future," the miner said in a statement.

The miner said that its share of first-quarter coal production rose 9.8% on year, to 4.6 million tons from 4.2 million tons, while its share of sales climbed 22% to 4.8 million tons from 3.9 million tons.

However, rainfall in northern New South Wales state in recent months and mining problems meant that attributable production fell 18% on the previous quarter, when 5.7 million tons were mined, while sales dropped 11.7% from 5.4 million tons the previous quarter.

The company said full-year saleable production would be maintained around 5%-10% above the 2010 level, when 18.8 million tons was produced.

-By David Fickling, Dow Jones Newswires; +61 2 8272 4689; david.fickling@dowjones.com

Grafico Azioni Coal & Allied Industries (ASX:CNA)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Coal & Allied Industries (ASX:CNA)
Storico
Da Giu 2023 a Giu 2024