Virginia, US-based metallurgical coal producer Alpha Natural Resources has issued its financial results for the third quarter of 2013.
According to the financial results, the company has reported a net loss of $458.2 million in the given quarter compared to a net loss of $46.1 million in the corresponding quarter of the previous year, due to lower coal prices and decreased shipments. Coal sales revenues in the third quarter of the current year saw a decrease of 29.4 percent year on year, falling to $1.03 billion.
In the first nine months of the year, Alpha registered a net loss of $754.7 million, while its revenues from coal sales decreased by 29.3 percent year on year to $3.3 billion.
During the third quarter, Alpha shipped 5 million mt of coal, up 2.04 percent, while the company's coal shipments in January-September totaled 66.3 million mt, declining by 20 percent, both year on year.
In 2013, Alpha expects to ship between 86 and 91 million mt and currently anticipates total 2014 coal shipments between 79 and 90 million tons