Mines news

Subscribe to industry newsletters

Bizcommunity has over 400 industry contributors and we always welcome further contributions and contributors.
Advertise with us
Advertise & RatesMy Account
Company press officeList company
Recruitment packagesSubmit job ad
Download ratecard
Mines news

Forbes Coal hurt by labour disputes and coal markets

16 Jan 2013 08:03
The month-long labour disruption in November and the challenging international coal market have weighed on Canadian company Forbes and Manhattan Coal Corp‚ with the group reporting a loss of C$2.29m for the third quarter of 2012 after a profit of C$2.35m in the second quarter.
For the three months ended November 2012 the group's revenue was C$10.83m compared with C$23.39m the quarter before.

"The company has resumed operating at full production and taking into consideration the seasonal December closure‚ we are pleased to see the quick ramp up and momentum we have achieved in the weeks since," said president and chief executive Stephan Theron

"At a high level‚ our year to date run of mine tons has surpassed the same period in 2012. Our continued commitment to achieving growth is our priority"‚ he said.

Total run of mine (ROM) production from all operations for the third quarter was 246‚000 tons‚ a 40% decrease compared with 415‚000 tons produced in the previous quarter.

Magdalena ROM production was 184‚000 tons‚ a 35% decrease‚ while Aviemore ROM production was 62‚000 tons‚ a 53% decrease.


SOURCE

I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
    
 
LEGAL DISCLAIMER: This Message Board accepts no liability of legal consequences that arise from the Message Boards (e.g. defamation, slander, or other such crimes). All posted messages are the sole property of their respective authors. The maintainer does retain the right to remove any message posts for whatever reasons. People that post messages to this forum are not to libel/slander nor in any other way depict a company, entity, individual(s), or service in a false light; should they do so, the legal consequences are theirs alone. Bizcommunity.com will disclose authors' IP addresses to authorities if compelled to do so by a court of law.

News