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KTK records 10% year-on-year rise in production

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World Coal,

Kuzbasskaya Toplivnaya Co. (KTK), a Russian producer and exporter of thermal coal, has announced a 10% year-on-year increase in quarterly production in 2Q16.

Coal production was 2.73 million t compared to 2.49 million t in 2Q15. Production was down slightly on 1Q16 output of 2.79 million t.

The Vinogradovsky mine accounted to 41% of KTK’s production with 2Q16 output of 1.13 million t. Karakansky South mine produced 0.84 million t, or 31% of the total; Cheremshansky mine produced 0.56 million t, or 20% of the total; and Bryansky mine produced 0.2 million t, of 8% of the total – the first production from this mine.

Karanksy South mine production is up 23% year-to-date as KTK seeks to take advantage of its low-cost production. Overall, 1H16 production stood at 5.52 million, 3% higher than the previous year. Exports stood at 3.59 million t, while domestic sales totaled 1.3 million t.

Average selling price fell slightly to RUB1223 per tonne from RUB1247 per tonne in 1H15.

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