Czech-based NWR to produce 11 million mt of coal in 2011

Central Europe's leading coking coal producer, Czech-based New World Resources N.V. (NWR) has announced that in 2011 it plans to produce about 11 million mt of coal and 800,000 mt of coke. Subject to market developments and underground production conditions, its coal mining business has the potential to produce an additional 400,000 mt of coal in the current year.
  
External sales are expected to reach about 10.3 million mt of coal, evenly split between coking and thermal coal, and 720,000 mt of coke. NWR expects an increase in coking coal volumes towards the end of 2011 and a subsequent rebalancing of the product mix towards coking coal in 2012.
 
According to preliminary results, in 2010 NWR produced 11.443 million mt of coal and 1.005 million mt of coke. Its coal sales in 2010 totaled 10.71 million mt, including 5.257 million mt of coking coal, while its coke sales amounted to 1.1 million mt. 
 
"NWR has achieved its targets for total coal production in 2010. However, the proportion of coking coal in the sales mix in 2010 was lower than anticipated and has impacted NWR's revenues for the year 2010. The relative shortfall in anticipated coking coal production from one of our mines was partially offset by a significant increase in production of predominantly thermal coal from another mine," reads the company's statement.