Australian coal producer Bowen Coking Coal (BCC) met its production and sales targets for the July 2024-June 2025 financial year by the end of May, the company said 20 June.
The company had sold 1.7mn t of coal which came in the middle of its full year guidance of 1.6mn t–1.9mn t. It is on track to hit the upper end of its sales guidance by the end of the current financial year on 30 June.
BCC also produced 2.7mn t of run-of-mine (ROM) coal over the same period, hitting the lower end of its full year guidance. It expects to reach the upper end of its guidance by late June.
BCC produces both coking and thermal coal. Coking coal accounted for 55pc of the company's total sales over the first nine months of the financial year. It did not give the year-to-date breakdown of thermal and coking coal sales.
The company's unit costs for the year are on track to meet the lower end of its guidance, at A$151/t ($98/t). It left its unit cost guidance for 2024-25 financial year unchanged today at A$145/t–A$161/t.
BCC's modest unit cost guidance and strong sales performance comes as it faces significant cashflow challenges. It is looking for capital and may need to pause or limit mining operations at the Burton mine complex if it is unable to secure funds.
Many producers operating in Australia's Bowen Basin have faced major coal export challenges this year, in contrast to BCC's success. Two coking coal mines in the region — UK-South African producer Anglo American's Moranbah North and global miner Glencore's Oaky Creek — have been non-operational for most of the last two months, over safety and water leak issues.
Australian rail operator Aurizon also reported a 4.6mn t year-on-year decline in haulage volumes in the Bowen Basin over January-April 2025, which pushed down its total haulages by 6.2pc on the year.
