Latest news

Latest news

Ubuntu colliery bags coal supply deal with Eskom

ASX-listed coal miner, Universal Coal, has executed a Coal Supply Agreement with Eskom for 100% of its production from its fourth operation Ubuntu colliery. Under the agreement, the Ubuntu colliery will deliver 1.2 Mtpa of thermal coal to Eskom with first coal delivery set for November 2019, with build-up of…

Universal reports 19% rise in production

Coal miner Universal Coal has reported a 19% increase in production during the three months to June, compared with the previous corresponding period, on the back of the integration of the North Block Complex, in South Africa. Run-of-mine production for the quarter reached 2.4-million tonnes, with coal sales also up…

Universal forecasts higher outputs

Perth  –South Africa-focused coal miner Universal Coalhas forecast a 29% increase in 2019 earnings before interest, taxes, depreciation and amortisation (Ebitda), on the back of a 28% increase in sales tonnage and based on the current international coal pricing and foreign exchange forecasts. Ebitda for the 2019 financial year is expected to reach A$93-million, while sales…

Universal posts record results

Coal miner Universal Coal has reported a near 800% increase in profits after tax for the full year ended June, while revenue has more than doubled. Net profit after tax for the 12 months under review reached A$35.9-million, up from the A$4-million achieved last year, while revenue increased from A$149.2-million…