IchorCoal has substantially increased turnover on the back of a sharp rise in coal production at South African mining operations.
Production at its Vunene Mining subsidiary increased to 991 000 t, almost tripling output on the same period last year, with sales of 960 000 t. The company now aims to boost production to 200 000 tpm by the end of the current year.
The increased output at Vunene Mining say turnover rise to € 26 million, exceeding turnover for the whole of the previous year. EBIT reached € 1.6 million.
The company is now in the process of relocating its administrative headquarters from Berlin to South Africa, following the realignment of the company’s strategy to focus on its South African mining operations and the sale of its trading subsidiary, HMS Bergbau.
Written by Jonathan Rowland
Read the article online at: https://www.worldcoal.com/coal/07082014/world-coal-ichorcoal-increases-turnover-on-higher-south-africa-coal-output-coal1174/