Hard coal and coke producer New World Resources has said remains on track to hit its full-year production and sales targets after production increased in the second quarter.
The firm produced 3,390kt of coking coal and thermal coal in the second quarter, up from 2,389kt in the first three months of the year. Meanwhile, coke production was steady at 174kt. While sales volumes were broadly higher, average realised prices slipped quarter-on-quarter.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
After having reached agreements with its customers for sales for the third quarter, the group said that that the average agreed price for coking coal is €129 per tonne, up 2% on the second quarter. Meanwhile, the average price agreed for coke sales fell 1% to €294 per tonne and the average thermal coal is €74, up 11% from the 2011 average realised price.
"Average prices announced are indicative prices. A range of factors including, but not limited to, exchange rate fluctuations, quality mix, timing of the deliveries and flexible provisions in the individual agreements, may influence final realised prices,"the firm said.
BC
-
Millions at risk of 'unnecessary' tax bill – how to shield your savingsMillions of Brits could be taxed on their savings interest this year as their savings interest exceeds the personal savings allowance. Are you at risk?
-
Savers will have to wait as long as 48 years to build a £1m cash ISA pot if allowance is cutChancellor Rachel Reeves is rumoured to be planning a cut to the cash ISA allowance in the Autumn Budget, making it harder for savers to build wealth. Will you still be able to build a £1 million cash ISA pot?
