On August 10, Houston, US-based metallurgical coal producer Natural Resource Partners L.P. (NRP) issued its financial results for the second quarter of 2010.
According to the financial results, the net profit of the company was $28.1 million in the second quarter of 2010, compared with a net profit of $4 million in the second quarter of 2009, increasing 484 percent. Sales revenues in the second quarter of 2010 saw a year-on-year increase of 34 percent, rising from $59.5 million in the previous year to $79.6 million.
Total production for the partnership was 11.8 million mt in the quarter in question, staying almost unchanged from the same period of the previous year.
"NRP's financial performance improved for both the quarter and the first half, as prices realized by our lessees for both metallurgical and steam coal were higher than those experienced since the start of this recession. As a result of the higher prices, revenues and coal royalty realizations per ton were at record levels for the second quarter," said Nick Carter, company president and chief operating officer.