Australia’s South32 Q3 coking coal production down 37% vs Q2, beats estimate

Australian miner South32 Ltd on Thursday reported a 37% fall in its third-quarter coking coal production compared to the previous quarter.

Production of coking coal or metallurgical coal, a key steel-making ingredient, fell to 990 kilo tonnes during the March quarter from 1.6 million tonnes in the second quarter, but beat a Goldman Sachs estimate of 784 kilo tonnes by a large margin.

(Reporting by Rashmi Ashok and Shreya Mariam Job in Bengaluru Editing by Leslie Adler)