Highlights

  • Whitehaven Coal reports managed ROM production of 11.0 million tonnes for the September quarter, up 3% on June and 22% year on year, as FY27 guidance stays at 38.0–41.0Mt.
  • Port outages at RG Tanna in Gladstone and PWCS in Newcastle reduce managed sales 3% to 7.6 million tonnes, pushing managed coal stocks 37% higher to 5.3 million tonnes.
  • Average achieved coal price rises to A$226 per tonne, up 2% on the June quarter and 20% on the prior year, with metallurgical coal at US$184/t and thermal coal at US$140/t.
  • Net debt rises about A$0.1 billion to approximately A$1.4 billion at 30 September, reflecting A$84 million in BMA contingent payments and A$61 million in shareholder distributions.

Whitehaven Coal Ltd has kept its FY27 guidance unchanged after a September quarter in which managed run-of-mine (ROM) production rose 22% year on year, but port outages in Queensland and New South Wales held back sales and left coal building up in stockpiles. The company (ASX:WHC) released its September 2026 quarterly production report on 23 October 2026.

Production

Managed ROM production was 11.0 million tonnes in the quarter, up 3% on the June quarter, while managed saleable production rose 5% to 8.5 million tonnes. Managed sales of produced coal fell 3% to 7.6 million tonnes, and equity sales fell 5% to 6.0 million tonnes. Managed coal stocks rose 37% to 5.3 million tonnes. Whitehaven attributed the sales shortfall to reduced vessel throughput at the RG Tanna terminal in Gladstone, where loading outages totalled 12 days, and at the Port Waratah Coal Services (PWCS) terminal in Newcastle, which had planned and unplanned loader outages. Chief executive Paul Flynn described the slippage of sales into the December quarter as temporary.

Queensland and New South Wales

In Queensland, managed ROM production fell 4% to 5.5 million tonnes. Blackwater, in which Whitehaven holds 70%, produced 4.1 million tonnes, while Daunia produced 1.4 million tonnes, down 19% but in line with plan as a southern box-cut began. Queensland equity sales fell 12% to 2.8 million tonnes. Metallurgical coal realised US$184 per tonne, or 74% of the premium low-volatile hard coking coal index.

New South Wales ROM production rose 10% to 5.5 million tonnes, helped by an uninterrupted run at the Narrabri underground mine, which produced 1.9 million tonnes. Maules Creek output fell 22% to 2.7 million tonnes, in line with mine sequence. Thermal coal realised US$140 per tonne, or 103% of the gC NEWC index. Gunnedah Open Cuts received approval to haul up to 4.1 million tonnes per year, up from 3.5 million tonnes.

Costs and Balance Sheet

Unit costs were at the low end of Whitehaven's FY27 guidance range of A$132–147 per tonne, excluding royalties, despite diesel averaging about A$1.38 per litre against the roughly A$1.16 per litre assumed in guidance. Net debt rose by about A$0.1 billion to approximately A$1.4 billion at 30 September. Outflows included A$61 million in shareholder distributions and A$84 million in contingent payments relating to the Blackwater and Daunia acquisition from BMA. The company bought back 1.8 million shares for A$14 million. A final deferred BMA payment of US$100 million is due in April 2027 and the last contingent payment in early July 2027.

Guidance and Watch Points

FY27 guidance is unchanged at 38.0–41.0 million tonnes of managed ROM production, 30.4–33.0 million tonnes of managed sales, 23.9–26.0 million tonnes of equity sales and capital expenditure of A$390–490 million. Key watch points include whether delayed tonnes ship in the December quarter, the planned PWCS outage in November and Narrabri's next longwall move scheduled to begin in March 2027. At Vickery Extension, all government approvals are in place but a final investment decision remains subject to board approval, while objections to Winchester South are before the Queensland Land Court.