Coal miner Tigers Realm Coal has reported a significant increase in coal production at its Russian assets during the three months to June.
The miner on Friday reported a run-of-mine (RoM) production of 410 000 t for the quarter ended June, up from the 208 000 t produced in the March quarter, bringing half-year production to 737 000 t.
Coal sales for the quarter reached 260 000 t, up from the 6 000 t in the previous quarter.
During the second quarter, the miner loaded 265 000 t of coal at the Beringovsky Port, an 80% increase on the previous quarter, following an early start to the shipping season in May and more efficient loading.
For the full year, Tigers Realm has set a RoM production target of between 1.5-million and 1.6-million tonnes, with coal sales targeted at 1.1-million tonnes. The miner warned, however, that ongoing geopolitical uncertainties could impact its ability to meet its sales target as sales were primarily focused on Chinese market customers.
During the quarter under review, Tigers Realm suspended its privatisation plans, citing concerns around the ability to procure the necessary regulatory relief on a ‘timely basis’ under the Australian and Russian law.
The company has also filed an application with the Federal Court of Australia seeking exemption from the government’s sanctions on Russian coal.