The nation's largest independent coal producer Whitehaven says its second quarter saleable coal production rose 11 per cent as a timely pickup in production from its Narrabri mine bolstered output.
Managed saleable coal production for the three months to December 31 came in at 5.6 million tonnes, compared with production of 5 million tonnes a year ago, the company said in a statement.
However, the miner's sales fell seven per cent for the quarter.
Whitehaven, which produces both thermal and metallurgical coal, reaffirmed its full year 2019 saleable production guidance at 22 million tonnes to 23 million tonnes on a managed basis.
The miner posted record quarterly run of mine coal production of 7.4 million tonnes, boosted by strong performance at both its Narrabri and Maules Creek mines.
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Technical issues at the Narrabri mine had undercut Whitehaven's coal production in the previous quarter. The mine accounted for about 40 per cent of Whitehaven's production in the second quarter.
Whitehaven sells its high grade coal across Asia, with the company citing the governments of Japan and Korea as its main customers. The miner has been able to avoid the slowdown in demand faced by its peers, who sell to China.
Whitehaven's stock price lost slightly in 2018. However, it fared far better than its peers on Australia's benchmark energy index, which declined nearly 11 per cent in 2018
Shares in Whitehaven Coal were trading at $4.54, up 6.1 per cent from $4.28 on Monday and on par with last week's close.
