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New World Resources announces coal prices for Q1 2013

World Coal,

New World Resources, a Central European hard coal and coke producer, has reported a 3% increase to EUR 103/t in its agreed price for coking coal in Q1 2013 compared to Q4 2012. However, the average price for its thermal coal this year will be 19% down on the 2012 realised price at EUR 60/t.

The company expects to produce 10 – 11 million t of coal in 2013, having produced 11.2 million t in 2012. Of this, the company sold almost 5 million t of metallurgical coal and 4.7 million t of thermal coal.

Commenting on the announcement, Investec, a bank, said: “The lower thermal price settlement is indicative of the market generally, with thermal spot prices remaining weak globally.”

Written by Jonathan Rowland.

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