ASX-listed Universal Coal, mining firm active on the Kangala and New Clydesdale coal mines in South Africa, plans to produce during the 2018 fiscal year (which started last July) 1.5 million tons more coal than it did the previous year, knowingly 3 million tons. 

According to a report published on the firm’s website, the increase will be driven by stable production of the New Clydesdale project. In 2017, the latter delivered 0.5 million tons of coal, a volume which should rise to two million tons in 2018 while Kangala will maintain its actual output.

Besides, the firm also expects its earnings before interest, tax, depreciation and amortization (EBITDA) to soar by 80%, basing its calculations on coal’s actual prices and the market’s outlook.