Centennial Coal

1st Half Export Target Achieved

􀂾 Centennial exceeded its export target of 2 million tonnes for the half year.
􀂾 Centennial’s equity share of coal sales totalled 3.2 million tonnes and 7.0 million
tonnes on a YTD basis, with YTD export sales up 18% on the prior year.
􀂾 Centennial’s equity share of ROM coal production totalled 3.3 million tonnes for
the quarter and 7.4 million tonnes on a YTD basis. Adjusting for discontinued
operations (Newstan and Berrima) YTD production was 13% higher from
continuing operations.
􀂾 ROM coal production under Centennial management totalled 4.2 million tonnes
for the quarter and 9.3 million tonnes on a YTD basis, while sales under
management totalled 4.1 million tonnes for the quarter and 8.8 million tonnes on
a YTD basis.
􀂾 Mandalong produced 2.7 million tonnes for the half year and commenced a
longwall changeover in December from LW8 to LW9.
􀂾 Airly commenced underground development activities ahead of schedule.
􀂾 The severe Northern Hemisphere winter, particularly in China, has lifted export
demand with spot thermal prices reported recently as high as US$100 per tonne.
Commenting on the Company's recent performance, Centennial's Managing Director
and CEO, Bob Cameron said:
“Following the cessation of production at Newstan and the sale of Berrima,
we successfully replaced these tonnes by achieving production increases at
our other operations. This has contributed to Centennial exceeding its
export target for the half year of 2 million tonnes.
It was also pleasing to see Airly, Centennial’s new export mine, commence
underground development activities ahead of schedule”.
27 January 2010