Sydney - Thursday - October 30: (RWE Australian Business News) -...

Sydney - Thursday - October 30: (RWE Australian Business News) -
Centennial Coal Company Ltd (ASX:CEY) reports strong thermal coal export
market fundamentals continued to prevail in the September quarter, with
increased levels of enquiry driven by customers seeking "security of
supply".
Export sales were up 22pc on a like-for-like basis compared with
the prior corresponding period.
Centennial's equity share of coal sales totalled 3.1m tonnes for
the quarter.
ROM coal production under Centennial management totalled 4.3m
tonnes and Centennial's equity share of the production was 3.7m tonnes.
As foreshadowed, three scheduled longwall changeovers limited
the quarter's production, compared with none in the prior period.
Therefore, on a like-for-like basis (ie after accounting for the
sale of Tahmoor in October 2007), production was down 23pc and 20pc on a
managed and equity basis, respectively.

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Managing director and CEO Mr Bob Cameron said, "While the
September 2008 quarter's production performance reflected the impact of
three longwall changeovers, including the commissioning of the new Angus
Place longwall equipment, exports were up.
"Strong thermal coal export market fundamentals continue to
prevail, with recent contract settlements comfortably above the 2008
Japanese benchmark price of $US125 per tonne and well above recent
'spot' levels.
"Centennial continues to expect a significant uplift in
profitability for the 2009 financial year, supported by increased
exports and much improved exchange rates."