Jan 22 (Reuters) - Australian diversified miner South32 Ltd (S32) posted a near 50% drop in second-quarter metallurgical coal output on Monday, as the Illawarra operation completed two planned longwall moves, including a planned extended outage at the Dendrobium mine.
The Perth-based miner said production of metallurgical coal, used to make steel, fell to 744,000 tonnes in the three months to December, from 1.5 million tonnes (mt) a year earlier.
That compares with Macquarie's estimate of 1.0 mt and Morgan Stanley's estimate of 1.1 mt.
News: S32 Australian miner South32's quarterly met coal output falls 50%
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