In today's report we look at Whitehaven Coal (ASX CODE: WHC). Whitehaven Coal Limited (Whitehaven) is engaged in the development and operation of coal mines in New South Wales. During the fiscal year ended 30 June 2012 (fiscal 2012), Whitehaven Coal Limited and its controlled entities continued development at the Narrabri underground mine. The Company operates in two segments: Open Cut Operations and Underground Operations. 

Coupled with economic growth in Asia, the production cuts may bring the Asian seaborne thermal coal market to stability. The outlook for medium-term seems to be better in view of the recent International Energy Agency forecast of annual demand growth of 2.3% until 2019.

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