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Pacific Coal lifts Q2 earnings

30th August 2013

By: Creamer Media Reporter

  

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JOHANNESBURG (miningweekly.com) – Colombia-focused coal producer Pacific Coal has lifted its earnings before interest, tax, depreciation and amortisation for the second quarter to $3.1-million.

This represented a significant turnaround from the loss of $8.2-million in the second quarter of 2012 and the $2.5-million loss recorded in the first quarter of 2013.

Pacific Coal noted that the $400 000 in earnings from operations and the $2.1-million in net earnings recorded in the second quarter were the highest ever for the company.

Further, the coal miner sold 349 818 t of coal at an average realised price of $106.05/t, resulting in $37.1-million in revenues for the quarter – 5% higher than the $35.2-million in revenues recorded in the second quarter of 2012 and 70% higher than the $21.9-million in revenues recorded in the previous quarter.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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