14th Oct 2013 16:09
LONDON (Alliance News) - New World Resources Monday said that it has agreed on pricing for coal in its fourth quarter as comparative production falls in its third quarter.
The hard coal and coke producer, with operations in Central Europe, said that the average agreed price for coking coal in the three months ending December 31 fell marginally to EUR101 per tonne from EUR102 per tonne and its thermal coal pricing fell to EUR60 per tonne from EUR74 per tonne.
The company also said its average agreed price for coke deliveries in the fourth quarter is EUR231 per tonne, also down from EUR264 per tonne the previous year as the global coal price fell during the period.
New World Resources also announced that its coking and thermal coal production fell to 2.2 million tonnes for the three months ending September 30 from 2.8 million tonnes the previous year and its coke production fell to 163,000 tonnes from 176,000 tonnes.
Despite lower coking coal sales volumes during the period of 1.1 million tonnes from 1.2 million tonnes, the company increased its thermal coal sales volumes to 1.3 million tonnes from 1.2 million tonnes and its coke sales volumes increased to 142,000 tonnes from 129,000 tonnes.
The company said it expects its full-year coal production to be between 9.0 and 10.0 million tonnes and said it will release a more detailed third quarter summary on November 6.
New World Resources shares were up 0.6% to 91.50 pence Monday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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