News Column

New World Resources Reiterates Coal Production Target For Full Year

July 11, 2014

Hana Stewart-Smith

LONDON (Alliance News) - New World Resources PLC Friday reiterated its full-year target for coal production and sales of 9.0 to 9.5 metric tonnes in 2014, as it has reached agreements with customers for coking coal prices for the third quarter.

It is targeting 55 to 60% of coking coal in its sales mix for the full year.

New World said it has agreed an average price for coking coal deliveries at EUR85 per tonne, up 1% from the second quarter's price of EUR84 per tonne. An average price of EUR54 per tonne has been agreed for thermal coal production in 2014.

The company produced 2,271 kilo-tonnes of coking coal and thermal coal in the second quarter, while selling 1,301 kilo-tonnes of coking coal and 812 kilo-tonnes of thermal coal.

Shares in New World Resources were trading down 0.1% at 10.44 pence Friday morning.

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Source: Alliance News

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