14th Jan 2015 09:56
LONDON (Alliance News) - New World Resources PLC on Wednesday posted a slight fall in coal production in the fourth quarter and for all of 2014.
New World said its total coal production in the fourth quarter to the end of December was 2.3 million tonnes, down from 2.4 million tonnes a year earlier.
Coking coal sales were down to 1.1 million tonnes from 1.2 million tonnes last year, with the average realised price falling to EUR84 per tonne from EUR98 a year earlier. Thermal coal sales also fell, down to 1.1 million tonnes from 1.3 million tonnes, with the average price down to EUR51 per tonne from EUR56.
For the full year, total coal production fell to 8.6 million, down from 8.8 million last year.
Coking coal sales rose for the full year to 4.8 million tonnes from 4.6 million tonnes, with the average selling price at EUR85 per tonne, down from EUR98 in 2013. But thermal coal sales dropped heavily over the year, falling to 3.5 million tonnes from 5.1 million last year, with an average price of EUR54 per tonne against EUR56.
New World Resources shares were untraded on Wednesday, having last traded at 1.305 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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