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BRIEF-South32 updates on FY17 production guidance at Illawarra Metallurgical Coal

Published 10/05/2017, 09:44 am
Updated 10/05/2017, 09:50 am
© Reuters.  BRIEF-South32 updates on FY17 production guidance at Illawarra Metallurgical Coal
S32
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May 10 (Reuters) - South32 Ltd S32.AX :

* Advises production at Illawarra Metallurgical Coal in FY17 is expected to be at least 10 percent below prior guidance of 7.9Mt

* Revised production forecast for FY17 to be provided, with decrease expected to translate directly to sales given low inventory levels

* "A commensurate increase in unit costs is also anticipated"

* On 7 May 2017, elevated gas concentrations were recorded at Appin Area 7; all personnel were safely evacuated

* Production at Area 7 and Area 9 longwalls has been suspended until our investigation into incident is completed Source text for Eikon: Further company coverage: S32.AX

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