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Corsa Coal announces 3Q14 results

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World Coal,

Corsa Coal Corp. has reported its 3Q14 results with revenue of US$45.2 million and EBITDA of US$3.6 million.

“The third quarter was a strategically significant time for Corsa, with the acquisition of metallurgical coal producer PBS Coals,” said Corsa’s CEO, George Dethlefson, said in a statement. “We continue to be focused on lowering operating costs, while also positioning Corsa for future growth. For the remainder of 2014, our focus will be on our productivity improvement initiatives, signing sales contracts for 2015 business and the continuation of our growth programme.”

The company’s production outlook for the full year is 1.61 – 1.66 million short t, including 701 000 – 721 000 short t of metallurgical coal. This is down slightly on 2Q14 guidance of 1.7 million short t due to a drop in metallurgical coal export orders and a change to customer delivery schedules for thermal coal.

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