Solid Energy Quarterly Report to 31 march 2012

SOLID ENERGY
Coals of New Zealand

Quarterly Report

Highlights

Coal: At 1.16 Million tonnes (Mt), production in the March 2012 quarter was up 24% on the corresponding quarter of 201 1. All mines increased their year on year quarterly production apart froim Huntly East.

Stockton Coal Handling and Processing Plant production for the quarter was the highest since the plant was commissioned in early 2010.

Our new Reddale Opencast Mine, north east of Reefton, came on-line during the quarter to supply coal to the upper South Island domestic coal market.

Coal sales for the March 2012 quarter were 1.12 Mt, up 29%, with stronger production performances from our West Coast mines increasing international sales by 66%. New Zealand sales at 516,000 tonnes were also higher than the prior year by 2%.

Wood pellets: Production for the March 2012 quarter was 9,000 tonnes, down 31%. Sales for the quarter of 10,000 tonnes were up 43%. We closed the Nature’s Flame Rolleston wood pellet plant at the end of February 2012.

Biodiesel: Production for the March 2012 quarter was 505,000 litres, up 24%. Sales of B100 for the quarter of 382,000 litres were down 31%, as we focused on producing blended product.

[Full report: 20120331_Quarterly_Report_Public_to_31_March_2012_Final.pdf]

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