In a trading statement, the European mining company said its pretax loss in the six months to
Earlier this year, the group said its cost of sales fell in the first quarter, as part of its ongoing cost-containment plan which was started in spring 2013 and included lower energy consumption, reduction in headcount of staff, lower levels of development work, and lower depreciation after the impairment charge in the 2013 figures.
However, the company also noted that revenues fell 18% in the first quarter, as its average realised prices for coking coal fell 12% and its thermal coal prices fell 6%.
"The first six months of 2014 show a similar trend as already reported in the first three months of 2014: decrease in revenues, year on year, attributable to lower sales volumes and reduced average sales price of coking coal," the company said.
The group said that as at
"With respect to financial position of the group as at
The group said it will announce its first-half results on
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