Russia’s Raspadskaya (MCX:RASP) announced that it produced 4.8 million tonnes of raw coal for the first nine months of 2012. It extracted 1.7 million tonnes for the same period, a 63 percent increase compared to the initial nine months of 2011.
According to the press release, results highlights include:
- In 3Q2012, Raspadskaya mine increased extraction by 27% compared to 2Q2012. Current production level at Raspadskaya mine and the capacities of the Company’s mines are significantly higher than the consumer demand.
- In 3Q production volumes decreased due to a lower demand for coking coal in the domestic market and a declining price trend on export markets. The Company had to keep down extraction at Raspadsky open pit and MUK-96 mine at 30% of production capacity.
- In 9M2012, export of coking coal totaled 0.5 million tonnes. The Company is taking active steps to promote Raspadskaya’s brand in the global market which include quality control of products in the areas of production, loading and unloading. Thus, in the reporting period certain volumes were sold for the purpose of technological tests at coke plants of the world’s large steel producers in Asia-Pacific region.