Full year thermal and metallurgical volumes also significantly exceeded the prior year. The increase in full year results is partially attributable to inclusion of a full year of BCC, but also reflects important operational improvements realized in the second half of 2012. These improvements stemmed from a combination of improved mining conditions (better strip ratios) and improved operating efficiency at all of our mines, which resulted from a decision taken in Q2 to centralize all of the Company's mine operations under BCC management. Previous to this, the Powhatan mine was managed separately. A key benefit of this change was a realignment of our equipment packages, which contributed to performance improvement at all of our mines.
Overall fourth quarter average pricing was $96 per ton, the same price realized in the previous year. Metallurgical coal pricing was lower than the previous year due to coal specification issues encountered with one of our customers. Full year average pricing was $99 per ton, the same price realized in the previous year.
Cost of Product Sold, Cost of Royalties, Transportation & Other (RTO)
Fourth quarter cost of product sold was $49 per ton compared to $47 per ton in Q3. This compares with $54 per ton achieved in the previous year and $56 per ton for the full year. The substantial reduction can be attributed to the operational improvements previously discussed, which resulted in higher production levels and a lower cost structure. Additionally, the Company made significant investment in new equipment and major repairs to existing equipment (particularly at Powhatan) in the first three quarters of 2012 and this contributed to lower repairs and maintenance expenditures in Q4.
Q4 royalty, transportation and other (RTO) costs were $18 per ton sold as compared to $18 per ton in the prior year. Full year RTO costs were $19 per ton compared to $18 per ton the previous year. RTO tend to be directly variable with sales volumes and only minor quarter to quarter per/ton fluctuations are expected.
Fourth quarter consolidated EBITDA was $3.2 million compared to $3.3 million in the previous quarter, $1.8 million in the first quarter and $1.9 million in the second quarter. Full year EBTIDA was $10.2 million compared to $8.5 million in the prior year. The significant increase achieved in the second half of the year can be attributed to increased production and sales levels and lower production costs previously discussed. EBITDA per ton was $20, compared to $21 per ton in Q3. EBITDA per ton in Q1 and Q2 was $14 per ton.
Notwithstanding improved operating results, the Company recorded a Q4 loss of $2.3 million contributing to a full year loss of $6.1 million. The substantial majority of the Q4 loss relates to the following provisions and error corrections ($2.2 million (pre-tax)) recorded in Q4, as follows:
-- A $770,000 charge was recorded against equipment to restate certain units to appraised value.-- The Company's investments in coal to liquids and related technologies and certain other project investments ($190,000) were written off on the basis that future commercialization is uncertain.-- The Company corrected an error in the calculation of mineral property amortization at the BCC level. The 2011 comparatives were also restated to correct the error related to this period. The Q4 adjustment was $188,000.-- During Q4, the Company changed its estimate of the carrying value of the asset retirement obligation at the BCC level, resulting in a Q4 charge of $826,000 million.-- The Company recorded a provision for doubtful accounts of $184,000 against certain old trade receivables.