However, lower expected sales of low-margin coal washing materials, higher price-related royalties, additional maintenance activities and long-life movements are expected to explode 16% to $ 101 / t over the course of the year. ‘EX22.
The company’s total coal production was 7.6 million tonnes in FY21.
South32’s total metallurgical coal volumes are forecast to increase by 2% in FY22 to 6.3 Mt, despite the extra-long size move expected to Appin during this period, in addition to the two already planned. .
The company is expected to produce 7.5 Mt of coal in FY 23, with metallurgical coal volumes increasing another 5% to 6.6 Mt.
Total marketable coal production is expected to decline 5% to 7.3 Mt in FY22 with fewer expected sales of low margin coal washing materials.
Safe and reliable capital spending decreased from US $ 30 million in FY21 to US $ 151 million, South32’s spending rate for underground development and the investment made to support the return to a three long size configuration returned to historic levels.
“Safe and reliable capital spending is expected to increase by US $ 64 million in FY22 to reach US $ 215 million as we invest in additional mine clearance and coal ventilation infrastructure to support the transition to only one long-scale mine plan in our Appin mine from fiscal year25, ”the company said. noted.
“Life improvement and extension capital expenditures increased from US $ 19 million to US $ 37 million as we incurred pre-engagement spending on studies and critical path items. for DND [Dendrobium Next Domain] project.”
In the third quarter of FY21, the New South Wales Independent Planning Commission rejected the company’s application for the DND project and curtailed its activity.
“We plan to deliver a new update before the end of the calendar year, with capital expenditures for life improvement and extension expected to decrease to US $ 15 million over the course of the year. ‘fiscal 22 as we slow down our activity on the project, ”South32 said.