Sadovaya Group in October 2012 cut coal extraction by 34.6% compared to October 2011, to 29,890 tonnes, and its sales plunged by 8.5 times, to UAH 16.03 million, reads a company report on the Warsaw Stock Exchange (WSE) on November 16, 2012.
The company said that extraction at Sadovaya Mine was suspended in
the middle of October due to low demand, and it halved, to 13,440
tonnes, while at Rassvet-1 Mine it was down by 12.2%, to 16,450 tonnes.
Sales fell by 3.5 times on September 2012, while coal extraction
decreased by 46.6%, including by 48.4% at Sadovaya Mine and by 45.1% at
Rassvet-1 Mine.
In October the company did not produce coal recovered from waste
dumps, while in October 2011 5,800 tonnes of coal was recovered from
waste dumps.
Since early 2012, the group increased coal extractions by 8.8%, to
402,750 tonnes, including by 1.7% at Sadovaya Mine, to 204,100 tonnes
and by 17.1% at Rassvet-1 Mine, to 198,660 tonnes.
Coal recovered from waste dumps came to 7,990 tonnes, a decline of 5.5 times.
As reported, coal extraction by Sadovaya Group in 2011 grew by 70.6%,
to 475,250 tonnes. The amount of coal recovered by Sadovaya Group from
mining waste was 55,980 tonnes, which is 4.1 times up on 2010.
Sadovaya Group in 2011 increased coal sales by 15.2% compared to 2010, to 1.264 million tonnes.
Sadovaya Group placed 25% of its shares in an IPO on the Warsaw Stock
Exchange in December 2010 and raised 92.6 million Polish zloty (around
$32 million).
