On July 22, Central Europe-based miner New World Resources Plc (NWR) announced that it has reached agreements with its customers for coking coal and coke sales for the third calendar quarter of 2011.
NWR set the average agreed price of coking coal for delivery in the third calendar quarter of this year at €192/mt, down 9 percent compared to the second quarter realized price. The decrease is in line with lower international prices both for hard and semi-soft coking coal. The average price agreed for coke sales during the third calendar quarter of 2011 is €378/mt, decreasing by 4 percent compared to the second quarter realized price.
NWR also announced the production and sales results. While it produced 3.25 million mt coking and thermal coal and 198,000 mt coke in the second quarter of 2011, sales volumes of coking coal and coke are reported to be 1.2 million mt and 1.6 million mt respectively.