Improved market conditions saw a $155 million ($US111 million) lift in coal sales revenue in the first half of 2026 for Queensland coal producer Stanmore Resources.

The company achieved about $1.366 billion ($US978 million) in coal sales revenue in the first half of this year compared to about $1.21 billion ($US867 million) in the first half of 2025.

EBITDA for the six months to June 30, 2026 was about $239 million ($US171 million) compared to $205 million ($US147 million) for the previous corresponding period.

A $US21/t (about $29 Australian) increase in the average sales price was partially offset by higher FOB cash costs of $US101/t (about $141), Stanmore reported.

Stanmore owns and operates the South Walker Creek mine, Poitrel and the Isaac Plains Complex in the Bowen Basin.

Related: PCI demand favours Stanmore as it pushes on with projects

The company reported run-of-mine production of 9.1 million tonnes. This was consistent with the first half of 2025, despite record rainfall in January from ex-tropical cyclone Koji and a deliberate focus on stripping in the second quarter.

It reported a saleable production of 6.5 million tonnes, tracking within guidance.

Stanmore chief executive officer and executive director Marcelo Martos said the company’s operations had delivered a safe and resilient first-half performance.

“With routine maintenance and an investment in stripping South Walker Creek complete, strong results from Poitrel, Isaac Plains Complex performing to plan, and overall healthy closing inventories, the business is well positioned to deliver on its reaffirmed full year guidance,” he said.

“Free cash flow remained positive over the period, underpinned by increased earnings compared to the prior year from improved market conditions.

“Supply fragility is evident, demonstrated by China netback pricing returning to parity with FOB Australia pricing for the first time in two years.

“However, ongoing elevated Chinese steel exports, subdued Indian demand during the monsoon season and improving Australian supply have weighed against this improved backdrop early in the second half.

“The refinancing completed after the half-year end has reset our capital structure by lowering funding costs and removing scheduled term debt repayments.

“This provides greater capital allocation flexibility following a period of elevated reinvestment in the business, and positions Stanmore to advance its high-quality development portfolio.”

The board has not declared a 2026 interim dividend, having regard to ‘the group’s capital allocation priorities, near-term growth opportunities and the importance of maintaining balance sheet flexibility.’