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- Tigers Realm Coal (TIG) achieves a record tonnage of coal sold during the 2021 shipping season
- Despite an earlier finish of the season due to early ice formation, along with battling adverse weather conditions, Tigers Real sold a total of 906 kilo tonnes during 2021
- Tiger Realm’s fifth 500 tonne barge is currently under construction and is expected to be in ready by the start of 2022 shipping season to further increase TIG’s annual loading capacity
- Tigers Realm Coal last traded at 2.3 cents on November 25
Tigers Realm Coal (TIG) has announced it achieved a record tonnage of coal sold during the 2021 shipping season.
Despite an earlier finish of the shipping season due to early ice formation, along with battling adverse weather conditions, Tigers Real sold a total of 906 kilo tonnes (kt) during 2021.
This result is 17 per cent, or 131kt higher than a previous record achieved during 2010 when coal markets were considered strong.
The company’s coal sales were split three ways. Thermal coal was sold through 12 vessels totally 765kt, two vessels of metcoal were sold, totalling 120kt, and the domestic market saw 21kt of coal sold.
Tigers Realm attributed its shipping success to the early chartering of a 100kt ice-class, geared bulk vessel for the first cargo, along with successful pre-season dredging which allowed the company to start the shipping season on May 28, its earliest start to date.
The company also noted strong teamwork at its port enabled the team to mitigate the impact of the unfavourable weather conditions, which hit at both the start and finish of the season.
As of now, the company has mined 860kt of coal, with its annual guidance for 2021 remaining at a level of up to 1000kt.
During the season, the company built up its mining and hauling capacity by adding a 100 tonne bulldozer, five dump trucks, a new excavator, a 70 tonnes bulldozer and five road haul trucks for coal transportation.
Tiger Realm’s fifth 500 tonne barge is currently under construction and is expected to be in Beringovsky by the start of 2022 shipping season to further increase TIG’s annual loading capacity.
Tigers Realm Coal last traded at 2.3 cents on November 25.
