Sharechat Logo

Solid Energy exports, forward orders another record

By NZPA

Thursday 17th October 2002

Text too small?
State-owned coal miner Solid Energy exported a record amount of coal in the year to June, and is on track for another record year.

Solid Energy said in a statement today that the previous 12 months, in which its export sales rose 8 percent to 1.8 million tonnes, was the second record year in a row.

The company was on track for further record exports of 2.1 million tonnes in the current year, with forward orders for all coal production from its West Coast export mines.

More than 80 percent of Solid Energy's exports was premium quality coking coal for steelmaking, with a very small amount of very high quality coal for specialist product markets such as silicon metal manufacturing. The remainder is sold to thermal electricity customers.

Chief executive Don Elder said the company expected the larger part of its export product mix to change to thermal coals for energy markets, from the current coking coals.

Solid Energy's major overseas market is Japan, which takes 45 percent of exports.

The company has just signed a three-year, $70 million agreement with South African steelmaker Iscor, and it also has export contracts to South America, Europe and Australia.

Solid Energy will release its annual financial results next month.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZME lowers FY24 guidance
Fonterra to proceed with Consumer businesses sale process
November 11th Morning Report
MFB - FY25 Half Year Results Announcement Date
The Warehouse Group FY25 Q1 Trading Update
Manawa Energy FY25 Interim Results
November 8th Morning Report
Devon Funds Morning Note - 07 November 2024
VHP - Confirmation of re-election of Graham Stuart
November 7th Morning Report