“In aggregate these volumes are capped at the lower of 200k...

“In aggregate these volumes are capped at the lower of 200k tonnes per quarter or 5% of each mine’s expected saleable thermal coal production”


”Metallurgical coal represented 7% of Whitehaven’s sales for the December quarter. The share of metallurgical sales was broadly steady on the previous quarter as we maintain the level of switching of semi-soft / PCI saleable coal to thermal blends to realise higher prices and margins during the quarter”


So the coal reservation scheme volumes are based on expected saleable thermal coal production. As metallurgical coal has increased in price Whitehaven will blend less thermal coal and sell more metallurgical coal.

Can anyone offer some idea on how much metallurgical coal Whitehaven can sell to reduce commitment to the scheme …. I saw the March Qtr was 24%, June Qtr 16%, Sep 8%, Dec7%, ( clearly the reduction Qtr on Qtr was due to blending to sell into the thermal coal market for the higher value )

Seems the market has over reacted to me without considering the changing price structures.