UK Coal sees its output lower than expected this year
Friday, 20 Nov 2009
Reuters reported that UK Coal's production will be lower than expected this year after problems at all of its deep mines, pushing its shares to a seven month low.
UK Coal expects deep mine production for the year to December 26th 2009 of between 5.7 million tonnes and 5.8 million tonnes, down from the previous forecast of about 6.2 million tonnes given on October 26th 2009 and its original guidance of 6.75 million tonnes.
It said that surface mine production remains in line with previous expectations at around 1.4 million tonnes. It added that "Production over the past three weeks at each of the company's deep mines has been materially lower than anticipated."
(Sourced from www.reuters.com)
To use the above contents click on "Get Code"
