Central Europe-based miner New World Resources Plc (NWR) has announced its financial results for the first half of the current year.
In the first six months, New World Resources registered a net loss of €57 million, compared to a net loss of €400 million in the corresponding period of the previous year. NWR's sales revenues decreased by 20 percent year on year in the first half to €346 million, while the company posted an operating loss of €23 million, narrowing down from an operating loss of €439 million in the first half of 2013.
During the first six months, NWR's total coal output increased by five percent to 4.5 million mt, while external coal sales declined by 17 percent to 4 million mt, both compared to the corresponding period of the previous year.
NWR's production and sales expectations for 2014 stand at 9-9.5 million mt, with 55-60 percent coking coal expected in the sales mix.