Whitehaven Coal (ASX:WHC) announced its financial forecast for the fiscal year 2024.

The company expects managed coal sales to be between 16.0 and 17.5 million tons.

Managed ROM coal production is predicted to be in the range of 18.7 to 20.7 million tons with a proposed capital expenditure of A$460 to 570 million.

Whitehaven Coal is also expecting a strong future demand for metallurgical coal, predominantly from emerging markets as India, Asia in general, and China.

The company plans to commence a A$150 million capital project for early mining at Vickery during FY24, with the first output expected around the middle of CY2024.

As restocking requirements increase in the months leading up to the Northern Hemisphere winter, an upward pricing pressure for thermal coal is anticipated.

Lastly, key priorities identified for the year include cost management along with attracting and retaining talent, to allow for the successful execution of the FY24 guidance.

Whitehaven Coal is an Australian coal mining company that operates open cut and underground mines.