Bloomberg News

Coal & Allied Quarterly Sales Rise 14% as Output Expands

October 13, 2011

(Updates with comments from company in third paragraph.)

Oct. 13 (Bloomberg) -- Coal & Allied Industries Ltd., the Australian coal unit of Rio Tinto Group that’s being taken private, said third-quarter sales rose 14 percent as output at its operations in New South Wales increased.

Coal & Allied’s share of production at the company’s four mines in New South Wales reached 5.6 million metric tons in the three months ended Sept. 30, compared with 4.9 million a year earlier, the Brisbane-based company said in a statement today.

Total coal sales from the four operations in New South Wales gained 12 percent from a year earlier to 7.4 million tons as output rose and the area benefited from the absence of an annual coal wash plant closure that took place last year, according to the statement.

A maintenance shutdown is scheduled for the current quarter, Coal & Allied said.

Coal & Allied fell 0.4 percent to A$123.39 at 3:05 p.m. in Sydney trading, compared with a 0.6 percent gain in the benchmark S&P/ASX 200 Index.

The coal producer accepted a bid totaling A$1.53 billion ($1.56 billion) from its two biggest shareholders Rio Tinto and Mitsubishi Corp. in August for shares they don’t already own.

--Editors: Ryan Woo, John Chacko.

To contact the reporter on this story: Elisabeth Behrmann in Sydney at ebehrmann1@bloomberg.net

To contact the editor responsible for this story: Rebecca Keenan at rkeenan5@bloomberg.net.


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