[miningmx.com] – UNIVERSAL Coal, the Australian-listed coal development and production firm, said group pre-tax earnings in the June quarter would be 50% higher taking pretax earnings for the half year to about $13m.
The improved performance was owing to a strong operational performance at Kangala, the Mpumalanga colliery it brought into production from last year.
“As a result, we are superbly placed to deliver our next operation – the New Clydesdale Colliery – before the end of the year,” said Tony Weber, CEO of Universal Coal.
“Once running at steady state, we expect group production to double to almost 5 million tonnes per annum on a run-of-mine basis,” he said.
