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Raspadskaya announces big loss

Published by
World Coal,

Despite increased production of metallurgical coal and lower cash costs per tonne, Russian coal miner, Raspadskaya, has reported a net loss of US$ 126 million in 2013 on revenue of US$ 525.5 million.

The company, which is controlled by steelmaker Evraz, blamed lower domestic sales volumes, a higher share of exports in a weakening market and the temporary suspension of operations at the Raspadskaya underground mine in May – July 2013.

The company produced 7.8 million t of metallurgical coal in 2013, up from 7 million t in 2012. 

Adapted from press release by

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