Stanmore Resources Exceeds Production Guidance Despite Q4 Decline

Brisbane, January 28, 2025 – Stanmore Resources reported record-breaking production in 2024, exceeding its full-year guidance despite a drop in output during the December quarter due to planned shutdowns and wet weather.

The company produced 13.8 million tonnes (Mt) of saleable coal in 2024, surpassing the upper guidance range of 13.6 Mt. Total coal sales reached 14.2 Mt, up from 13.1 Mt in 2023. However, Q4 production dipped 13% quarter-on-quarter (QoQ), with 3.3 Mt of saleable coal produced as operations faced disruptions.

South Walker Creek and Poitrel mines set full-year production records, with South Walker Creek reaching 6.3 Mt and Poitrel achieving 4.6 Mt. The Isaac Plains Complex produced 2.8 Mt, slightly lower than last year.

The company’s product coal stockpile declined 23% QoQ, reflecting strong demand. However, the premium hard coking coal price slipped from $205 to $197 per tonne, impacted by Chinese steel exports and weak global demand.

Looking ahead, India’s rising metallurgical coke imports and a ramp-up in processing capacity at South Walker Creek may support Stanmore’s production and pricing in 2025. The company remains financially strong, ending the year with $289 million in cash and over $500 million in liquidity.