Central Europe-based miner New World Resources Plc (NWR) has announced its operating results for the fourth quarter and 2012.
In the fourth quarter of 2012, total coal output decreased slightly to 2.58 million mt, compared to 2.6 million mt in the same quarter of 2011. Coke output decreased by 16.7 percent year on year to 155,000 mt. During the given quarter, coking coal sales amounted to 1.16 million mt, down 1.7 percent, while coke sales decreased by 1.6 percent to 123,000 mt, both year on year.
In 2012, New World Resources' total coal output amounted to 11.2 million mt, compared to 11.24 million mt in the previous year. Coke output last year was 680,000 mt, down 11.7 percent year on year. Regarding sales volume in the same period, coking coal sales increased to around 5 million mt, up 13.2 percent, while coke sales remained unchanged at 555,000 mt, both compared to 2011.
For 2013, NWR expects coal production volumes between 10 million mt and 11.1 million mt and coke production of approximately 800,000 mt.
The company currently anticipates that in 2013 its average agreed thermal coal prices will decline. NWR expects pricing pressure in the coking coal market to continue in the near term, with improved international supply-demand balance driving a recovery in the medium to long term.
