NWR Says Quarterly Prices for Coke, Coking Coal Gain

Friday, Jan 28, 2011 By Lenka Ponikelska

New World Resources NV, a mining and coking company based in Amsterdam, said contract prices for first-quarter delivery of coke and coal increased.
The company agreed to deliver mostly semi-soft coking coal for an average price of 165 euros ($226) per metric ton, 7 percent up on the previous three months, it said today in a statement. Coke prices are up 1 percent, at 339 euros a ton.

Thermal coal prices are 13 percent higher than a year ago, at 71 euros a ton, the company said.
NWR said it fulfilled its overall coal production targets for 2010. A lower-than-expected proportion of coking coal in the sales mix affected 2010 revenue. The shortfall in coking coal production was partly offset by an increase in that of thermal coal, according to the statement.
The company expects to produce about 11 million tons of coal and 800 kilotons of coke in 2011, the company said, adding that external sales are likely to reach 10.3 million tons of coal and 720 kilotons of coke on 2011.

The company has the capacity to produce an extra 400 kilotons of coal this year, depending on market conditions, the company said.
NWR is due to publish fourth-quarter results on Feb. 24. (sourced : Bloomberg)