Central Europe-based miner New World Resources Plc (NWR) has announced its financial results for the full year 2012.
In 2012, New World Resources registered a net loss of €1 million, compared to a net profit of €130 million in 2011. NWR's sales revenues decreased by 20 percent year on year in 2012 to €1.3 billion, while the company's operating profit declined to €56 million, down 80 percent year on year.
During 2012, NWR's total coal output remained unchanged at 11.2 million mt, while external coal sales declined by nine percent to 9.72 million mt, both compared to the previous year.
According to NWR, the company aims to end 2013 with both mining unit costs and coke conversion costs remaining broadly flat year on year. It will implement measures to reduce its capital expenditures for 2013 to €120-130 million without affecting production flexibility.
