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Continental Coal reports rise in coal sales in final quarter of 2012

Total coal sales rose 10 per cent in the quarter ending December 31st at Continental Coal, a quarterly update issued by the company on Friday has disclosed.

Total coal sales rose 10 per cent in the quarter ending December 31st at Continental Coal, a quarterly update issued by the company on Friday has disclosed.

The company, which produces thermal coal in South Africa, reported that thermal coal sales for the quarter had risen to 449,203 tonnes from 408,206 tonnes in the previous quarter.

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Total thermal coal sales during the quarter from the company's Vlakvarkfontein Coal Mine were 351,264 tonnes, representing a 19% increase on the 296,395 tonnes in the previous quarter and 7.0% above budget.

Monthly sales of 153,072 tonnes were achieved in November 2012, improving the previous monthly record of 112,088 tonnes delivered in May 2012.

Run-of-mine (ROM) coal production at the Ferreira Coal Mine for the December 2012 quarter totaled 152,280tonnes. Quarter-on-quarter an increase of approximately 44% was achieved from the 105,757 tonnes of ROM coal produced in the previous quarter.

Continental Coal's share price was down 2.63% to 4.62p at 11:05 on Friday.

MF

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