Continued weak coal prices have placed yet more pressure on embattled Czech coal mining firm, New World Resources (NWR). The challenging coal market conditions saw the company post a bigger-than-expected net loss over Q3 2014.
NWR lost €71.2 million over the quarter – almost €20 million more than the €52.8 million loss many analysts had been expecting.
NWR completed a major debt and equity restructuring last month.
NWR confirmed a sales and production target of 8.75 – 9.00 million t in 2014 and said it expected output of 7.50 – 8.00 million t in 2015. The company said it did not see significant price movements in either metallurgical or thermal coal next year.
Written by Sam Dodson
Read the article online at: https://www.worldcoal.com/coal/13112014/new-world-resources-posts-large-loss-over-q3-2014/