Belon’s coal output increases in Q1 2009

Friday, 22 May 2009 11:13:07 (GMT+2)

The Russian coal mining company Belon Group (Belon) has issued its production results for the first quarter of 2009.

During the period in question, Belon increased its output of coking and power-generating coal by 38 percent to 1.409 million mt compared to the same period last year. Belon's output of coking coal in Q1 2009 amounted to 795,000 mt - up 23 percent year on year, mainly due to the commissioning of its new mine Kostromovskaya.

In January-March 2009, Belon's enrichment plants processed 1.852 million mt of coal - down 12 percent year on year, as the demand for concentrates from Russian customers was low, especially in December 2008-January 2009. In Q1 2009, Belon's deliveries of coking coal concentrate decreased by 20 percent to 646,000 mt compared with the same period last year.

In Q1 2009, Belon reduced its coking coal price for the Russian domestic market by 40 percent compared with Q4 2008, and by 41 percent compared to Q1 2008. Meanwhile, in 2008 the average coking coal price increased by 2.2 times compared to 2007.

In January-March this year the number of employees at Belon declined by 179 to 7,780.

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