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The miner realised average prices of €87 ($115) in the first half of 2014, down 15% from levels of €102 per tonne ($135) achieved in the first half of 2013.
NWR posted a loss of €57 million ($75.8 million) for the period, equivalent to a basic loss of €0.22per share, despite driving down cash costs by 24%.
This was improvement on the previous year when it posted a loss equivalent to €0.56 per share, the company said.
Earnings before interest, taxes, depreciation and amoritisation (Ebitda) totalled €19 million ($25.2 million), NWR said, adding that the company had cut capital spending to €24 million ($32 million) from €61 million ($81 million) a year earlier.
NWR said it would maintain its coal production and sales target at 9-9.5 million tonnes for 2014, with coking coal to make up 55-60% of production.
“The past few years have undeniably been tough, not just for NWR but for the whole coal mining sector and related industries,” executive chairman Gareth Penny said in a statement.
“I am confident that with the radical steps that we have taken, and are continuing to do so, NWR will emerge as a much stronger regional player and better positioned to capitalise on the opportunities that will be afforded when conditions recover,” Penny added.
Czech coal miner New World Resources (NWR) saw revenues drop by 20% year-on-year in the first half of 2014 to €346 million ($460 million), driven by a slump in coal prices, the miner said in its first-half results on Thursday August 21.