Mr. Julian Treger reports
ANGLO PACIFIC GROUP PLC: NARRABRI PRODUCTION GUIDANCE FY2016
Anglo Pacific Group PLC is providing an update on its Narrabri royalty following the release of Whitehaven Coal Ltd.'s full year to June 30, 2015, results.
Whitehaven has announced its guidance for run-of-mine (ROM) coal production for the next fiscal year at the Narrabri North mine to be 6.6 million tonnes to 6.8 million tonnes.
Julian Treger, chief executive officer of Anglo Pacific, commented:
"We are encouraged by Whitehaven's production guidance for fiscal year 2016, which is a testament to Whitehaven's management, who have delivered one of the most productive and lowest-cost underground longwall coal mines in Australia. The expected coal production for next year is above the 6.5 million tonnes of run-of-mine coal production that Anglo Pacific had assumed at the time of the royalty acquisition. This royalty continues to exceed our expectations."
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