Central Europe-based miner New World Resources Plc (NWR) has announced its financial results for 2014.
In 2014, New World Resources registered a net loss of €21 million, compared to a net loss of €914 million in the previous year. NWR's sales revenues decreased by 20 percent year on year to €676 million, impacted by lower prices, while the company posted an operating loss of €258 million, narrowing down from an operating loss of €973 million in 2013.
During 2014, NWR's total coal output decreased by two percent to 8.6 million mt, while external coal sales declined by 14 percent to 8.3 million mt, both compared to the previous year.
NWR's production and sales targets for 2015 stand at 7.5-8 million mt and 8 million mt respectively, with 60 percent coking coal expected in the sales mix.