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 Jonathan Rowland
Read the article online at: https://www.worldcoal.com/coal/26032014/russian_coal_miner_-raspadskaya-_announces_big_loss_coal660/