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.
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.
ASX-listed Universal Coal’s FY2019 EBITDA is expected to be A$93 million – an increase of 29% from last year.
Sydney-listed Universal Coal has delivered an upbeat assessment of its short-term prospects saying it would lift pre-tax earnings 29% to A$93m for the 2019 financial year and boost production 28% to just over six million tonnes a year (Mt/y).
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.
Coal stocks appear to be turning things around with a substantial improvement in their bottom lines – and some are giving back to shareholders.
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.
Department of Mineral Resources (DMR) has granted Ministerial approval in terms of Section 11 of the Mineral and Petroleum Resources Development Act (MPRDA) for the ownership transfer of Glisa and Eerstelingsfontein mining rights to North Block Complex Proprietary Limited (NBC), a subsidiary of Universal Coal Plc (Universal) on the 3 August 2018.
Sydney-listed, Universal Coal, said the South African government had approved the transfer of mining rights to the North Block Complex (NBC), thermal coal operations that it is buying from Exxaro Resources.
ASX-listed Universal Coal subsidiary, North Block Complex, has been granted approval by the Department of Mineral Resources in terms of Section 11 of the Mineral and Petroleum Resources Development Act for the ownership transfer of Glisa and Eerstelingsfontein mining rights.