The British miner Bisichi Mining, which has coal interests in South Africa, reported total production of 670,000 tonnes for the six months ended June 30, compared with 582,000 tonnes in the first half of 2017.
The company achieved earnings before interest, taxes, depreciation and amortization of £ 5.2 million compared to £ 1.4 million in the previous comparable period, resulting in a base profit of 22.25p compared to 2.37p in the previous year. comparable period.
The results reflect the stable production and infrastructure improvements implemented in the coal washing plant in the Black Wattle mine in Mpumalanga.
The company said the demand for Black Wattle coal remains strong, which has a positive impact on the prices that are achievable for its coal on the international and domestic markets.
Looking ahead to the rest of this year, management will continue to focus on increasing the lifetime of mines at Black Wattle, by purchasing additional coal reserves, as well as maintaining production levels to take advantage of the higher prices the company believes feasible are for his coal.