Keaton delivers ‘pleasing’ FY17 production

JSE-listed Keaton Energy delivered “pleasing” production volumes for the financial year ended March 31, despite experiencing a 4% dip in sales.

Some 2.1-million tonnes of washed two- and four-seam thermal coal from Keaton’s Vanggatfontein openpit colliery, near Delmas, were sold to State-owned power utility Eskom during the period under review, a 4% decline on the sales of 2.2-million tonnes in the prior year.

Keaton also reported 35 961 t of five-seam metallurgical coal sales in the 2017 financial year, down from 98 252 t in 2016, reflecting the decision to use the plant for toll washing, where a total of 206 334 t were toll washed, compared with zero in the prior year.

“Although production was slightly off record levels owing to the extremely wet weather during the last quarter, it was a pleasing result,” Keaton CEO Mandi Glad said in a statement on Thursday.