MOSCOW Aug 22 Russian coking coal miner
Raspadskaya posted a first-half net loss of $68
million, due to sluggish demand and a temporary halt at its main
mining operations, compared with a loss of around $19 million in
the same period of 2012,
The company, controlled by steelmaker Evraz, said
on Thursday revenue rose 5 percent year-on-year to $301 million,
while adjusted earnings before interest, tax, depreciation and
amortisation (EBITDA) tumbled 73 percent to $27 million.
The firm attributed the drop in profit to weak domestic
demand and the suspension of operations in Raspadskaya mine in
May due to elevated gas levels.
In July, the miner revised down its output forecast for 2013
by more than quarter, seeing coking coal production at 8 million
tonnes by the end of the year.
Coking coal is an ingredient in steelmaking, an industry hit
by slowing growth in top consumer China and poor demand in